How has improvement in technology stimulated the globalisation process? Explain with five examples.
The following are the factors which have helped in the process of globalisation:
i. Rapid development in technology has contributed a great deal in furthering globalisation. Technological advancement has resulted in faster delivery of goods and services across longer distances at cheaper costs.
ii. Development in information and communication technology has brought the world a lot closer. Telecommunication technologies such as telephone, telegraph and fax are often used to contact people and organisations around the world, access information on an urgent basis and communicate with remote areas. Tele-conferences are nowadays often used in order to avoid long trips around the world.
iii. Developments in information technology have helped in the spreading out of the production of services around the globe. Orders are nowadays placed through the Internet, designing is done on computers and payments are done online. E-mail and voice-mail are available at negligible costs.
iv. The cost of air transport has fallen gradually. This has resulted in greater volumes of goods and people being transported across the world.
v. E-banking, e-commerce, e-learning, e-mail and e-governance are becoming more commonplace.
