Impacts Of Globalization Pdf9/14/2020
But it requires opening up of economy and providing conducive atmosphere for flow investments.With the addition of new dimensions in the form of business and trade, the definition of globalization has taken higher meaning.
It is quite obvious that the tremendous changes and innovations in telecommunications and transportation are the prime factors responsible for current state of globalization. New modes of transport like railroads and steamship and telecommunications like radio, Television have revolutionized the world in several aspects during early 19 th century. They became instrumental in maximizing the utilization of time and space. This trend was followed in the 20 th century and transportation became much faster and safer with innovations in technology in several fields including electronic and tele-communications. ![]() World has become a global village and network connections became very convenient across the world. It is the compression of the world and the intensification of the consciousness of the world as a whole. ![]() It is evident that globalization is spreading to all aspects and its influence can be felt in business houses and it seems that it keeps growing. ![]() Several trade routes were established with different regions across the continents. India developed contacts with South Burma, Cambodia, Vietnam, Siam and several other coastal countries. Along with trade, people exchanged their views by learning new languages and exchanging cultural links. In this way one country influenced the other in varied fields. This trend has resulted in globalization in fields like trade, agriculture and technology. World trade took new dimensions with the establishment of Dutch East India Company and British East India Company. Countries exchanged commodities freely with introduction of steamships in the first half of the 19 th century. Railways also added to the convenience and transportation became cheaper. Political changes in Asia and Africa also influenced the globalization. The low cost carriers and Open Sky policy among the counties gave rise to tough competition in trade and other fields. The invention of email has revolutionized the communication network globally. Usage of internet across the world has lessened the gap between the continents. The most important of them all is the protection of domestic markets. But the phenomenon of globalization is unstoppable with advancements in communications and transportation.
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