List down the important ideas/concepts. Globalization is the term used to describe how countries are becoming more interconnected economically and culturally. Globalization is an international process driven by trade, investment technology, and finances; this process affects culture, political systems, economic development and prosperity, and human physical well-being worldwide. Globalization is not new, though. For thousands of years, people and later corporations bought from and sold to each other at great distances. One such example is the thin silk road across central Asia that connected China and Europe during the middle ages. Still, what exactly has driven globalization over the past 20 years? These have been significant developments in both communications and transport technologies. The introduction of specialized bulk carriers and container ships has helped reduce the cost of transportation and significantly increase the volume of world trade. Recent developments in communications technology, especially the development of the internet and email, enable people anywhere on earth to access and distribute vast information accounts. The production and distribution of goods and services are increasingly dominated by huge companies known as transnational corporations. The business links of Kenzie’s create a more integrated world economy where decisions made in one country can affect people in other parts of the world. International trade has given countries access to goods and services they cannot produce themselves or obtain more cheaply from other places
List down the important ideas/concepts.
Globalization is the term used to describe how countries are becoming more interconnected economically and culturally. Globalization is an international process driven by trade, investment technology, and finances; this process affects culture, political systems, economic development and prosperity, and human physical well-being worldwide. Globalization is not new, though. For thousands of years, people and later corporations bought from and sold to each other at great distances. One such example is the thin silk road across central Asia that connected China and Europe during the middle ages. Still, what exactly has driven globalization over the past 20 years? These have been significant developments in both communications and transport technologies. The introduction of specialized bulk carriers and container ships has helped reduce the cost of transportation and significantly increase the volume of world trade. Recent developments in communications technology, especially the development of the internet and email, enable people anywhere on earth to access and distribute vast information accounts. The production and distribution of goods and services are increasingly dominated by huge companies known as transnational corporations. The business links of Kenzie’s create a more integrated world economy where decisions made in one country can affect people in other parts of the world. International trade has given countries access to goods and services they cannot produce themselves or obtain more cheaply from other places.
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