Question

What is the role of technology in Globalisation ?

Hint:

A good way to summarize technology's role is to say it has led to the "death of distance" or "time-space compression," making geographical separation less relevant for economic and social interactions.

Answer 1

Step 1: Understanding the Concept:
Technology is arguably the single most important driver of the recent wave of globalisation. It provides the essential tools and infrastructure that make global interconnectedness possible.
Step 2: Detailed Explanation:
The role of technology in globalisation can be seen in two main areas:
1. Revolution in Communication Technology: The invention of the telegraph, telephone, satellites, and most importantly, the internet and microchips, has been revolutionary. This technology has enabled the instantaneous flow of information and ideas across the globe at a negligible cost. It facilitates global financial markets, the outsourcing of services (like call centres), and the rapid spread of cultural products.
2. Advances in Transportation Technology: Innovations in transportation, such as the development of container shipping and larger, faster aircraft, have drastically reduced the cost and time required to transport goods across long distances. This has been fundamental to the growth of global trade and the creation of global production chains where different stages of manufacturing happen in different countries.
Step 3: Final Answer:
Technology's role in globalisation is fundamental. Communication technology (like the internet) allows for the instant transfer of information and capital, while transportation technology (like container ships) enables the efficient movement of goods, together making the world a single integrated market.