How has improvement in technology stimulated the globalisation process? explain with 5 examples.
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.
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.
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.
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.