In the Group of 20, unlike the Group of 7, both industrial and developing countries have a say in economic coordination. But, economics are not the only concern. Cultural homogenization worries many. There is fear that overpowering globalization will force the extinction of national cultures and traditions, especially in the southern hemisphere. Others disagree with this notion, saying societies have been changing for all eternity.
Globalization increases choice and liberty, while national group identity does the opposite.
In a world with close contact between differing cultural identities and ethnic practices, governors must be careful not to steer diversity down the destructive paths of the past. There is also concern that globalization means more for the rich, and less for the poor. But it must be made clear that the benefits of overall growth should reach all, and that economies that are more transparent tend to have lesser income inequalities. Nonetheless, it is true that some countries are falling behind. Ghana, for example, has strictly followed structural adjustment programmes for 15 years, yet still struggles to attract investment and grow.