How does globalization impact technology and the economy?

How does globalization impact technology and the economy?

Globalization enhances technology transfer and innovation, leading to economic growth and interconnected markets.

Can you give examples of how technology has changed due to globalization?

Sure! The rise of the internet and mobile technology has connected businesses globally, enabling e-commerce and remote work.

What are the negative effects of globalization on local economies?

Negative effects include job losses in certain sectors, increased competition for local businesses, and cultural homogenization.

How can countries balance globalization with protecting local industries?

Countries can implement policies like tariffs, support for local businesses, and invest in education to enhance competitiveness.

What role does technology play in shaping global trade?

Technology streamlines logistics, enhances communication, and enables data analysis, making global trade more efficient.