what factors led to the rise of globalization
http://en.wikipedia.org/wiki/Globalization
will you don't know nothing about week 5 discussion what do you know
Huh??
The rise of globalization has been influenced by several key factors. To understand them, let's break it down:
1. Technological advancements: Technological innovations, especially in communication and transportation, have played a significant role in promoting globalization. The development of the internet, mobile devices, and high-speed transportation systems has made the world more interconnected and accessible, facilitating the exchange of goods, services, and information across borders.
2. Trade liberalization: The gradual reduction of trade barriers, such as tariffs and quotas, has boosted globalization. Many countries have embraced policies promoting free trade and economic integration, leading to the formation of regional trade blocs (e.g., the European Union, ASEAN) and multilateral agreements (e.g., World Trade Organization). This has encouraged cross-border investments, the movement of goods and services, and the integration of global supply chains.
3. Market-driven economic policies: Governments worldwide have increasingly embraced market-oriented economic systems, such as capitalism and neoliberalism. These policies prioritize open markets, private property rights, and deregulation, fostering a more globalized economic landscape and promoting international investment and competition.
4. Capital mobility: The liberalization of capital flow has allowed investments and financial transactions to occur on a global scale. Capital mobility has facilitated foreign direct investment (FDI), portfolio investments, and the establishment of multinational corporations. This has stimulated economic growth, job creation, and the transfer of technology and knowledge across borders.
5. Cultural exchange: The spread of information and ideas through media, entertainment, and the internet has led to the diffusion of cultures and values across the globe. Increased cultural exchange has contributed to the blurring of national boundaries and the development of a more interconnected global community.
It is important to note that these factors are interconnected and reinforce each other. The rise of globalization can be seen as a complex and ongoing process that continues to shape the modern world.