Globalization

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Critically assess the statement: The main driving force behind globalisation is technological change. There has been a marked trend towards increasing globalisation over the past 50 years. The world has become increasingly integrated and interdependent; and business, trade and politics no longer apply to one country alone. There is no universally agreed definition of globalisation, and there are many different controversial views on the subject. The Organization for Economic Co-Operation and Development (OECD) defines globalisation as “an increasing internationalisation of markets for goods and services, the means of production, financial systems, competition, corporations, technology and industries” (OECD 2001). Globalisation is not a new concept, however, there have been two periods of significant increasing trends in globalisation: during the 19th century industrial revolution and the present day since the 1980s. Both of these periods are times of substantial technological advancement which could be connected to the driving force of globalisation. However, the lifting of political and economic barriers, foreign direct investment and increasing foreign demand are all factors which could be the driving force of globalisation which might not be related to improved technology at all (WTO 2008). There have been significant improvements in technology that have greatly affected globalisation, particularly in the ability to transport and communicate around the world (WTO 2008). Transportation and communication are thought to be some of the main cornerstones of globalisation (Corbett 2008) as they are the methods by which goods, materials, people, ideas and information are spread around the world. Therefore the speed and accessibilit... ... middle of paper ... ... In conclusion, technological advancement, particularly in transport and communication has been a vital factor for the emergence of multinational corporations and the spread of globalisation. However, technology on its own is not enough to fully drive globalisation, and there are other factors which are equally important. Demand for foreign goods and services influences globalisation more than technology, and barriers between countries, both political and economic, also greatly influence the opportunity for globalisation. Technology has limits no matter how advanced it is, there needs to be a demand in the first place to drive the supply, as well as accessible borders between countries with peaceful agreements. It is clear there is no single driving force behind globalisation, but an integration of several driving forces which work together and influence each other.

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