Has Cultural Globalization Been Good or Bad for Egypt?

Category: Bank, Egypt, Globalization
Last Updated: 19 Apr 2023
Pages: 2 Views: 341

Globalization is defined as “making something worldwide in a certain function” (dictionary. com). The incredible shift a country, the society, and the country’s culture inherits both positive and negative aspects. The change is not as visible in developed countries in comparison to developing countries. Egypt is a poor, developing country in which is influenced by countries across the world. Different elements such as the economy and the society must be considered to determine whether globalization has a positive or negative effect on Egypt.

To begin, with the spread of the idea of globalization in Egypt and worldwide new economical advancements have forced an alteration in how bank systems are used today. The positive outlook on this developing issue is that the new system tries to adapt in order to fit the global picture of how a bank should act and what exactly their roles should contain. Also, globalization has “enhanced the manner of how businesses should operate and the manner of how larger companies take in and execute the cash flow of money” (Ganguly).

On the other hand, the bank system is corrupt and several citizens till this day do not understand the new system. The reason behind their confusion is because the lack of knowledge, gap of social classes, and inability to adapt to a new development. Their aspect is the manner in which the bank is perceived negatively and is why several citizens, especially the ones of a lower class, stay far away from the bank system. Next, the issue that has shaken the Egyptian society as a whole is whether or not to accept the fact that their original cultural values are beginning to adjust due to the uprising and spreading of globalization.

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With the distribution of diverse cultures, it is difficult for the citizens of Egypt to stay intact with their own cultural principles. For instance, fashion plays a tremendous role in the altering of cultural values. This can be seen today in the male youths who walk the streets of Cairo, Egypt wearing low-waist jeans, loose t-shirts and holding the “coolest trend of all, a cigarette in their right hand”(Ganguly). When being compared to the youths of the early 1900s men at this time did not have the lavish choice to wear anything but slacks and a dress shirt. Even on casual outings their dress code required nothing but chinos.

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Has Cultural Globalization Been Good or Bad for Egypt?. (2017, Apr 12). Retrieved from https://phdessay.com/cultural-globalization-good-bad-egypt/

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