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What is the role of technology in globalization. Explain?
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What is the role of technology in globalization. Explain?
Factors stimulated the globalisation process:

(i) Improvement in transportation:

For the past 50 years, we have seen improvements in transportation technology. This has made faster delivery of goods across long distances possible, at lower costs.

(ii) Development in information and communication technology:

Technology in the areas of telecommunication and computers has been changing rapidly.

(iii) Telecommunication:

Telecommunication facilities like telephone, telegraph, mobiles, fax are used to contact one another in the world. This is made possible due to satellite communication devices.

(iv) Computers:

They have now entered almost in every field of activity. In the amazing world of Internet, we can obtain and share information on almost anything we want to know.

(v) Internet:

Internet also allows us to send instant electronic mail (e-mail) and talk (voice mail) across the world at negligible cost. Even the payment of money from one bank to another can be done through e-banking.
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What is the role of technology in globalization. Explain?
Role of Technology in Globalization


Technology has played a crucial role in facilitating globalization, which is the integration of economies, cultures, and societies across the world. Below are some of the ways in which technology has contributed to globalization:


Communication and Information Sharing



  • Technology has made communication and information sharing faster, cheaper, and more efficient, enabling people to connect with each other from anywhere in the world.

  • The internet and social media platforms have enabled people to share ideas, information, and knowledge, breaking down geographic barriers and facilitating cross-cultural exchange.

  • Video conferencing and other digital communication tools enable businesses to collaborate and communicate with partners and customers globally, reducing the need for travel and face-to-face meetings.



Transportation and Logistics



  • Technological advancements in transportation and logistics have made it easier and cheaper to move goods and people across borders.

  • Containerization and other shipping technologies have enabled goods to be transported more efficiently and at lower costs, supporting the growth of international trade.

  • Air travel has become more affordable and accessible, enabling people to travel globally for business, tourism, and education.



E-commerce and Digital Markets



  • The rise of e-commerce and digital markets has enabled businesses to reach customers globally, breaking down geographic barriers to trade.

  • Online platforms such as Amazon, Alibaba, and eBay have created new opportunities for small and medium-sized businesses to sell their products globally, increasing competition and encouraging innovation.

  • Digital payment systems have made it easier and more secure to conduct cross-border transactions, reducing the costs and risks associated with international trade.



Conclusion


Overall, technology has played a critical role in facilitating globalization, enabling people, businesses, and governments to connect and collaborate across borders. While there are some challenges and risks associated with globalization, such as job displacement and cultural homogenization, technology has the potential to mitigate these challenges and promote a more inclusive and sustainable form of globalization.
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Read the extract given below and answer the questions that follows:Globalization expands and accelerates the movement and exchange of ideas and commodities over vast distances. Globalisation has created more competitive environment in India. In the past two to three decades, more and more MNCs have been looking for locations around the world which would be cheap for their production. Foreign investment by MNCs in these countries has been rising. At the same time, foreign trade between countries has been rising rapidly. A large part of the foreign trade is also controlled by MNCs. The result of greater foreign investment and greater foreign trade has been greater integration of production and markets across countries. Globalisation is this process of rapid integration or interconnection between countries. MNCs are playing a major role in the globalisation process. More and more goods and services, investments and technology are moving between countries. Besides the movements of goods, services, investments and technology, there is one more way in which the countries can be connected. This is through the movement of people between countries. People usually move from one country to another in search of better income, better jobs or better education. Rapid improvement in technology has been one major factor that has stimulated the Globalisation process. Even more remarkable have been the developments in information and communication technology. Globalisation and greater competition among producers - both local and foreign producers - has been of advantage to consumers, particularly the well-off sections in the urban areas. There is greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result, these people today, enjoy much higher standards of living than was possible earlier. Globalisation has also created new opportunities for companies providing services, particularly those involving IT.Answer the following MCQs by choosing the most appropriate optionQ. Process of integration of different countries is called

Read the extract given below and answer the questions that follows:Globalization expands and accelerates the movement and exchange of ideas and commodities over vast distances. Globalisation has created more competitive environment in India. In the past two to three decades, more and more MNCs have been looking for locations around the world which would be cheap for their production. Foreign investment by MNCs in these countries has been rising. At the same time, foreign trade between countries has been rising rapidly. A large part of the foreign trade is also controlled by MNCs. The result of greater foreign investment and greater foreign trade has been greater integration of production and markets across countries. Globalisation is this process of rapid integration or interconnection between countries. MNCs are playing a major role in the globalisation process. More and more goods and services, investments and technology are moving between countries. Besides the movements of goods, services, investments and technology, there is one more way in which the countries can be connected. This is through the movement of people between countries. People usually move from one country to another in search of better income, better jobs or better education. Rapid improvement in technology has been one major factor that has stimulated the Globalisation process. Even more remarkable have been the developments in information and communication technology. Globalisation and greater competition among producers - both local and foreign producers - has been of advantage to consumers, particularly the well-off sections in the urban areas. There is greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result, these people today, enjoy much higher standards of living than was possible earlier. Globalisation has also created new opportunities for companies providing services, particularly those involving IT.Answer the following MCQs by choosing the most appropriate optionQ. Globalisation has posed major challenges for

Read the extract given below and answer the questions that follows:Globalization expands and accelerates the movement and exchange of ideas and commodities over vast distances. Globalisation has created more competitive environment in India. In the past two to three decades, more and more MNCs have been looking for locations around the world which would be cheap for their production. Foreign investment by MNCs in these countries has been rising. At the same time, foreign trade between countries has been rising rapidly. A large part of the foreign trade is also controlled by MNCs. The result of greater foreign investment and greater foreign trade has been greater integration of production and markets across countries. Globalisation is this process of rapid integration or interconnection between countries. MNCs are playing a major role in the globalisation process. More and more goods and services, investments and technology are moving between countries. Besides the movements of goods, services, investments and technology, there is one more way in which the countries can be connected. This is through the movement of people between countries. People usually move from one country to another in search of better income, better jobs or better education. Rapid improvement in technology has been one major factor that has stimulated the Globalisation process. Even more remarkable have been the developments in information and communication technology. Globalisation and greater competition among producers - both local and foreign producers - has been of advantage to consumers, particularly the well-off sections in the urban areas. There is greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result, these people today, enjoy much higher standards of living than was possible earlier. Globalisation has also created new opportunities for companies providing services, particularly those involving IT.Answer the following MCQs by choosing the most appropriate optionQ. Globalisation has led to higher standards of living of

Read the extract given below and answer the questions that follows:Globalization expands and accelerates the movement and exchange of ideas and commodities over vast distances. Globalisation has created more competitive environment in India. In the past two to three decades, more and more MNCs have been looking for locations around the world which would be cheap for their production. Foreign investment by MNCs in these countries has been rising. At the same time, foreign trade between countries has been rising rapidly. A large part of the foreign trade is also controlled by MNCs. The result of greater foreign investment and greater foreign trade has been greater integration of production and markets across countries. Globalisation is this process of rapid integration or interconnection between countries. MNCs are playing a major role in the globalisation process. More and more goods and services, investments and technology are moving between countries. Besides the movements of goods, services, investments and technology, there is one more way in which the countries can be connected. This is through the movement of people between countries. People usually move from one country to another in search of better income, better jobs or better education. Rapid improvement in technology has been one major factor that has stimulated the Globalisation process. Even more remarkable have been the developments in information and communication technology. Globalisation and greater competition among producers - both local and foreign producers - has been of advantage to consumers, particularly the well-off sections in the urban areas. There is greater choice before these consumers who now enjoy improved quality and lower prices for several products. As a result, these people today, enjoy much higher standards of living than was possible earlier. Globalisation has also created new opportunities for companies providing services, particularly those involving IT.Answer the following MCQs by choosing the most appropriate optionQ. Globalisation has created new opportunities of

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