Read the extracts and Answer the following questions.
Globalisation is the process of rapid integration of countries. This is happening through greater foreign trade and foreign investment. MNCs are playing a major role in the globalisation process. More and more MNCs are looking for locations around the world that are cheap for their production. As a result, production is being organised in complex ways. Technology, particularly IT, has played a big role in organising production across countries. In addition, liberalization of trade and investment has facilitated globalisation by removing barriers to trade and investment. At the international level, WTO has put pressure on developing countries to liberalize trade and investment. While globalisation has benefited well-off consumers and also producers with skill, education and wealth, many small producers and workers have suffered as a result of the rising competition. Fair globalisation would create opportunities for all, and also ensure that the benefits of globalisation are shared better.
(i) How technology helps in Globalisation.
(ii). Suggest some measures to ensure fair Globalisation.
Dear Student,
Find the answer below.
i) Technology is an indispensable part of the Global world that keeps us connected. It provides high data communication facility to software experts worldwide. It has brought about greater interconnectivity among the nations and has contributed to the globalised world. It has been both the cause and effect of the process of globalisation. Internet, for instance, has helped in the exchange of ideas, culture, beliefs, all of which has contributed to globalisation. It as largely contributed to increased trade and commercial links among the nations. MNC's have rather brought in the latest technology in many countries at a reduced cost. It has also contributed to a faster rate of production, expanding choices of consuming and has also enhanced the efficiency of work.
Find the answer below.
i) Technology is an indispensable part of the Global world that keeps us connected. It provides high data communication facility to software experts worldwide. It has brought about greater interconnectivity among the nations and has contributed to the globalised world. It has been both the cause and effect of the process of globalisation. Internet, for instance, has helped in the exchange of ideas, culture, beliefs, all of which has contributed to globalisation. It as largely contributed to increased trade and commercial links among the nations. MNC's have rather brought in the latest technology in many countries at a reduced cost. It has also contributed to a faster rate of production, expanding choices of consuming and has also enhanced the efficiency of work.
ii) Some methods to ensure fair globalisation are-
- Small producers should be provided aid and protection to ensure they can compete and grow in the same market as big producers and no monopoly is thence created.
- Trade barriers should be implemented to protect domestic trade.
- WTO should be pressurized by developing countries to implement fair rulers in all countries.
- Labour laws and rights for workers should be strictly implemented and adhered to. Trade unions and Non-governmental organisations should strive to improve the conditions of workers and small businesses that are impacted by globalisation.
Regards