Question

Explain any two major causes of globalization.

Hint:

Technology and trade policies are the backbone of globalization, linking economies and markets.

Answer 1

Two major causes of globalization are:
1. Advancements in Technology: The rapid development of communication technologies, including the internet and mobile networks, has made it easier for people and businesses to connect globally. This has enabled the flow of information, capital, and services across borders.
2. Trade Liberalization: The reduction of tariffs and trade barriers through international agreements like the WTO has facilitated the movement of goods and services across the world, boosting global trade and economic interconnectedness.