Question

Impact of globalisation and technology development

Answer 1

Answer:

Explanation:

Technological advancements reduce costs of transportation and communication across nations and thereby facilitate global sourcing of raw materials and other inputs. Patented technology encourages globalization as the firm owning the patent can exploit foreign markets without much competition.

Answer 2

Advancements in technology have considerably facilitated globalization. In fact technological progress has been one of the main forces driving globalization. ... Now technology is easily transferable to developing countries where high tech production can be combined with low wages.