Explain the role played by technology in the globalization
Answers
Answer:
Technology is the vital force in the modern form of business globalization. ... Technology has helped us in overcoming the major hurdles of globalization and international trade such as trade barrier, lack of common ethical standard, transportation cost and delay in information exchange, thereby changing the market place.
Explanation:
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Role of technology in globalization:
1. There have been many improvements in transport section which helps in export and import of goods. This increases trade relations between countries.
2. Since technology improves efficiency, the process of exchange has become faster and cheaper.
3. Development in information and communications technology has been the most beneficial since information can be now sent in seconds across the world.
4. Development in IT also has led to the production of services through outsourcing like call centers, online teaching etc.