Globalization in Saudi Arabia

Topics: Developed country, Economics, Investment Pages: 4 (1452 words) Published: October 26, 2010
Globalisation In Saudi Arabia.

The term globalization can be defined as a process by which societies, regional economies and cultures have been integrated via a global network of transportation, communication and trade. It has both positive and negative impacts in all the areas that it touches on be it economical, social, technology, cultural, political, environment, health or any other. Globalization started to have an impact on businesses world wide in the eighteenth century since that time marks the merging of modernity and globalization. However, in the modern sence, globalization kicked off after the end of Second World War since its during that time that leaders felt the urge to break down the borders with the aim of enabling trade between nations. This study will discuss globalization in Saudi Arabia and its effects.

Globalization and technology.
Technology can be defined as the total of instruments and procedures that aims to dominate nature by transforming the outside material world and is also based on action in accordance with the scientific knowledge and engineering science (Clarke 2005, pg 137). Globalization has had both positive and negative impacts on technology and especially in the communication ant transportation industry. Due to advancement in technology, communication and transportation costs have lowered significantly leading to lower costs in information storage and retrieval as well as data processing. Developments in electronics cannot be ignored either especially in the computer and microchip revolutions. Today, a laptop worth $2000 is more powerful than a mainframe computer whose cost was $10 million about 30 years ago. Internet, electronic mail and world wide web are also some of technological developments that have resulted from globalization and made communication and access to information easier,(intrilligator 2003). Transaction cost has also lowered significantly due...
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