Globalization is a modern phenomenon. It is ‘a process (or set of processes) which embodies a transformation in the spatial organization of social relations and transactions – assessed in terms of their extensity, intensity, velocity and impact – generating transcontinental or interregional flows and networks of activity, interaction and the exercise of power’ (Held et al., 1999, p. 16). It means that globalization does not indicate an unique form of impact but its influence vary in the form of extensity, intensity, velocity and impact using the forms of ‘flows’, ‘networks’ and ‘interaction’. Usher and Edwards (1995) argued that globalization portends the demise of national education and the national education system. It also argues the emergence of a borderless world (Ohmae, 1990). Although both Usher and Edwards have described globalization in a broad sense but have identified global education in a narrow sense. In this point of view, he has more specifically emphasized on local and traditional, social and cultural education system.

However, the extensive view of globalization means the internationalization process of communication that had begun during the colonial period. More generally, globalization does not only mean global economy but it has comprehensive and innovatory consequences in the field of political and cultural arena. In the age of globalization, education is regarded as one of the most effective remaining instruments of national policy. On the other hand, it turns into gradually important for national economic competitiveness in a global market.

Representative APR 391%. Average APR for this type of loans is 391%. Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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