How has the technology helped in enabling globalisation? Explain.
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A common definition of globalization is the worldwide integration of markets for goods, services, and capital. In other words, the degree of integration is measured by trade flows, capital flows, and people flows (as well as the similarity of prices in separate markets, which is irrelevant for this answer), and an increase in such flows is an increase in globalization.
Technology is the number one factor driving these flows. Take a look at some of the technological innovations over the last century and a half, and you’ll see that it’s correlated with and caused globalization.
Steam-powered ships through modern ships = faster transportation of larger quantities of goods by sea (increasing intercontinental trade) + easier and faster movement of people (improved immigration by sea)Railroads = faster transportation of larger quantities of goods and resources by land (benefits manufacturing and increases trading on continents) + faster movement of peopleAutomobiles = faster transportation for goods and people + more independent movement of people (less restrictive than rail or sea travel)Airplanes = faster movement of people across and between continentsTelegraphs/telephones = faster communicationThe Internet = faster communication + easier trading of non-physical assets
All of these innovations made the flow of goods, services, and capital faster and easier.
Trade flows faster as larger quantities of goods can be transported faster and many more services can be performed near instantaneously. Additionally, communication, which is essential for trade, is faster as parties can fly to meet each other, talk on the phone, or simply have a face-to-face via a video chat.
Capital flows faster as the exchange of money can be made with the click of a button.
People move more freely with better transportation.
In short, technology makes more people more connected, which is what globalization is all about.
Technology is the number one factor driving these flows. Take a look at some of the technological innovations over the last century and a half, and you’ll see that it’s correlated with and caused globalization.
Steam-powered ships through modern ships = faster transportation of larger quantities of goods by sea (increasing intercontinental trade) + easier and faster movement of people (improved immigration by sea)Railroads = faster transportation of larger quantities of goods and resources by land (benefits manufacturing and increases trading on continents) + faster movement of peopleAutomobiles = faster transportation for goods and people + more independent movement of people (less restrictive than rail or sea travel)Airplanes = faster movement of people across and between continentsTelegraphs/telephones = faster communicationThe Internet = faster communication + easier trading of non-physical assets
All of these innovations made the flow of goods, services, and capital faster and easier.
Trade flows faster as larger quantities of goods can be transported faster and many more services can be performed near instantaneously. Additionally, communication, which is essential for trade, is faster as parties can fly to meet each other, talk on the phone, or simply have a face-to-face via a video chat.
Capital flows faster as the exchange of money can be made with the click of a button.
People move more freely with better transportation.
In short, technology makes more people more connected, which is what globalization is all about.
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Because of technological development,it has become very easy to communicate with people around the globe.for ex development in telecommunication facilities and satellite communication devices have made it possible to communicate and send orders to the mnc(s) around the globe.
Also computers have now entered in almost every field of activity.
And finally the amazing world of internet allows us to send instant e-mails and talk(voice mail) across the world at negligible costs.
One more point is that the development in the technology of transporting cargo in containers have lead to huge reduction in Port handling costs and increased speed.IF U LIKE THEN PLS MARK THIS AS THE BRAINLIEST ANS
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