Technology And Internet, A Hot Trend In Shaping Globalization
Quote from Pulitzer Prize-winning Author, Thomas L. Friedman on Globalization:
"It is the inexorable integration of markets, nation-states and technologies to a degree never witnessed before-in a way that is enabling individuals, corporations and nation-states to reach around the world farther, faster, deeper, cheaper than ever before, and in a way that is enabling the world to reach in the world to reach into individuals, corporations, and nation-states farther, faster, deeper, cheaper than ever before"
My thoughts:
In order to get an overall sense of what globalization is
we must examine the trends that are shaping globalization today. Among
the most prominent trends that I believe shape globalization is
Technology and Internet, Shifting of Economic Powers, the Growth of
World Population, and Outsourcing.
In this article, I want to focus on Technology and Internet and how it has become a Hot Trend in shaping globalization today.
“The key to understanding globalization is understanding that the world is smaller, more interconnected than ever and technology has allowed this connection to happen.” - Thomas L. Friedman
Technology today, especially the Internet, is quickly shaping globalization, constantly driving new ideas and innovation and heating up competition on a worldwide basis. The Internet provides the potential for the complete reorganization and tighter co-ordination of the global financial system. Its potential for global communication is unlimited and this is what makes the Internet a key to emerging information infrastructure for global trade and communication. This exact potential is making the Internet a hot trend in shaping globalization today.
For developing countries, it is an opportunity to gain access to knowledge and services from around the world in a way that would have been unimaginable before. The growth of Internet usage worldwide is astonishing and it further proliferates it as a hot trend shaping globalization. Chart 1.1 shows the world regional growth of the Internet from 2000 to 2007. Furthermore, research suggests that the largest growth over the period 2005 – 2010 will come from China, India, Mexico, Brazil and Indonesia; by 2010, 1 out of every 5 inhabitants worldwide will be Internet users.
Conclusion:
Technology and Internet is just one hot trend shaping globalization today. Examining this trend and others will help fuel greater worldwide economic opportunity, mobility, spending power and entrepreneurial activity. This means a bright future for our business segments as well as for our customers and worldwide communities.
By Ankush Agarwal, MarketNet
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