In Globalization process technology is the main factor. I meant to say Information Technology. We have lot of examples how IT is effect on globalization. 25 years back in computer and telecom field they improved a lot in span of short time, which is access to economic potential and information. So later years this effect is on all areas of the economy. Can you imagine now any field without computer and internet? No right. So all these are in the part of IT. Making easy to understand and creating effective channels in the process of exchange information. IT has been medium for global integration.
So to enable Globalization IT is mandatory and this technology emerges between the industrial developed countries. Globalization means improvement in the human life. We know like 20, 30 years back how many people went to study in abroad, how many people went to vacations to other countries? What about now? We can imagine now how people changed to go other countries I mean our neighbor countries to anywhere in the earth this graph is increased like a hockey stick. 20 30 years ago only scientists are having internet. At that time no one knows what is internet also what is telephone. But now I don’t find any person without knowing what is internet what is mobile phone. So this is called Globalization, can you imagine globalization without technology?
Source for the technological revolution is industrialized countries, that revolution effects globalization but the global economy also got ripple effect from the technological revolution. We can see in the mail system also it used to take days not days we can say weeks to send a mail from place to another place before this technological revolution, but now we can do instantaneously.
Modes of interaction, means in 1940’s we don’t have TV’s also where you will get news is only radios and that too from only one source, but now in your computer you can watch 100 different information sources which covers the world. No need computers also now everyone is using mobiles only to read the news, to know the latest information etc. Stretching Out of social means decisions and practices happened in one places and execution will happened in another place. Globalization is like a multi dimensional with its economic it can be better understood.
The Parent of Globalization is science and the activator is his child called technology. So main reason for globalization is science and technology. Now we are following media reports on all fields in terms of success and fails of all the fields. Globalization is completely changed the way where whole world operates. To contact and communicate with our friends and family the barriers will work. In all fields like business, politics, social etc are the ingrained in Globalization. Product, labour, service and financial markets the broader and tighter integration. For sure globalization and nature is unprecedented and easy.
When the extension occurs for the markets, under...