which factors enabled globalisation explain any one
Which factors enabled globalization and explain any one?
Answer:
Globalization has been enabled by various factors that have contributed to the interconnectedness of economies, cultures, and societies worldwide. One significant factor that has played a crucial role in enabling globalization is technological advancements. The rapid development and widespread adoption of technology, particularly the internet, have revolutionized communication and information sharing on a global scale. This has facilitated the seamless flow of ideas, goods, services, and capital across borders, transcending physical barriers.
The advent of the internet and digital technologies has significantly reduced the cost and time required for international communication and transactions. Businesses can now operate globally with greater ease, accessing new markets and collaborating with partners from different parts of the world. This interconnectedness has led to the creation of a global marketplace where products and services can be bought and sold across continents with relative ease.
Moreover, technological advancements have fueled innovation and productivity growth, driving economic development in many parts of the world. This has led to increased trade, investment, and economic interdependence among nations, fostering closer ties and partnerships on a global scale.
In conclusion, technological advancements stand out as a significant factor that has enabled globalization by breaking down barriers and creating opportunities for collaboration and interaction across borders.