This article examines the key challenges and prospects associated with the transformation of value systems in the context of globalization. The focus is on analyzing how globalization affects cultural, social and ethical aspects of public life at the global level. The article draws on the work of renowned philosophers and sociologists such as Zygmunt Bauman, Peter Singer, Amartya Sen, Michael Walzer and Jürgen Habermas, who explore changes in cultural identity, moral relativism and the interaction of global and local values. It is emphasized that globalization brings both opportunities for cultural enrichment and the development of global ethics, and the risks of losing unique cultural traditions and norms. The impact of globalization on moral standards is discussed and ways of developing universal ethical principles that could help create a more just and sustainable world order are suggested.