Saturday, September 6, 2008

Has development in other areas lead to globalization?

It seems to me that globalization is fuelled by various other development, some key ones that have contributed are mentioned below-
1. Technological advances have significantly lowered the costs of transportation, communication and dramatically lowered the costs of data processing and information storage and retrieval
2. Trade liberalization and other forms of economic liberalization that have led to reduced trade protection and to a more liberal world trading system
3. Global agreement on ideology, with a convergence of beliefs in the value of a market economy and a free trade system
4. A certain improved level in understanding cultures and acceptance of English language as official business language internationally