Globalization over the past years has become a measure issue in many countries. Not only does it expand trading markets, but also promotes productivity and efficiency; thus improving the country and integrating it into the industrial world. Then what is meant by “globalization”. Is it really a myth? Globalization is the free movement of capital, goods, services and labour around the world, by big commercial companies, which have massive control of the world’s economy, transcending the boundaries of state and country. This transcendence across countries results in the shrinking of the economy and results on it depending on larger companies with a controlling interest in most of the capital within it. This global control of capital comes through the transference of operations from “superpower” economies, to third world countries. This transference takes place for purely economic gains, with companies seeking to take advantage of lower wages and a large unskilled labour force. Globalization can be looked at from five different aspects; economically, technologically, politically, culturally and environmentally. Economically, globali- zation has been greatly encouraged free trade agreements and also developed regional trade agreements. Technologi- cally, the Information Technology revolution has resulted in massive improvements in communication, through faxes, E-mail, and the Internet. These improvements have resulted in the world becoming a smaller place as worldwide interaction is both quick and easy. Culturally, there has been a spreading of globalization through the media of films, television and music. Environmentally, global warming has become serious a common problem of all most all countries of the world. All developed, developing and under developed countries have joined hands to save our earth from this serious threat.