There are three driving forces of globalization. Improvements in technology, improvements in transportation and investments by transnational corporations (TNCs)
Firstly, Improvements in technology has made communications among people in different locations faster and more convenient. People across the globe can communicate with tools such as telephone, electronic mail, fax and video conferencing. Satellite technology has enabled messages to be transmitted from one location and received in another part of the world almost simultaneously. Similarly, optical fiber systems have very large carrying capacity and transmit information at very high speed. The Internet has greatly transformed the way one communicates, conducts business, obtain information and purchases goods and services. It has enabled consumers to gather information on new products and places. Hence, it is a significant driving force of globalization.
Secondly, improvements in transportation have shrunk the world considerably in terms of time taken to travel from on place to another. Containerisation has reduced the time and money taken to move goods over long distances. It has greatly simplified the transferring of goods from one mode of transportation to another as containers can be easily transferred from ships to trucks. In a globalizing world, there is an increasing mobility of goods and people. Countries have built efficient and integrated transportation infrastructure to facilitate this movement. The efficient transport network worldwide made it possible for goods to be moved across the world. At the same time, it also meant that people could travel easily. Hence, it is a significant driving force of globalization.
Lastly, investments by TNCs is a key driving force of globalization as these are large global firms which based their headquarters in a number of countries and set up businesses in different locations. The TNCs coordinates and controls their worldwide activities via advances...
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