Over the past several decades we have seen open economies growing at a faster rate than closed ones.Yet by opening themselves up these economies were more severely impacted by the recent global financial crisis. The countries with a closed economy were better able to handle the economic downturn.
Countries that resist globalization have been better able to protect their cultural identities. Transnational corporations have had a major role in changing the cultures in developing countries into a more globalized culture. There are a number of different methods that people across the world have resorted to in an effort to protect their cultural values.
