Abstract
Globalization is characterized with multi-faceted aspects. Sometimes it helps in social and economic development. On the contrary, it hampers social and economic development on the whole. Globalization increases interdependency; therefore, it is the main cause of changes in the international system. Before the advent of globalization within the international spectra, the individual’s role and status were considered important. With the introduction of globalization, individual activities regarding the interdependency between the nations have become collective efforts. Therefore, the concepts of social and economic development have changed entirely. These concepts, directly or indirectly, reshaped or sometimes totally converted into the lobbies and whims of multinational corporations, non-governmental organizations (NGOs) and global actors. This paper will review the process of globalization and its impact on international relations which is a factor in socio-economic development.
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