Technology globalization is one of the main reasons that the advancement pace of technology has escalated in the past decade. In information and communication technology, innovations have become smaller, more efficient, and affordable. In transport technology, vehicles have become more prominent and faster, as well as more environmentally friendly and cheaper to run. Whether for personal use or business, technology has made the world seem smaller and assisted in the rise of globalization.
Technology Globalization is a term that describes the increasing trend towards internationally integrated markets and global interconnectedness. It is the process by which states become interdependent on all spheres of life. It is a process where countries go global by adapting universal characteristics involving the human race. It is, therefore, the process of uniting people into one unit with universal traits. These characteristics include; systems of education, politics, democracy, and economy, among many others.
The benefit of technology globalization is now being experienced for new free market policies and a free exchange of goods/products and capital wherein a lot of producers or different companies are encouraged to import and export their products to the entire world at lower prices for easy consumption and circulation which improves the business or enterprise/entrepreneurship which benefited more the consumers at the same time it enhances income. It creates new jobs, so it equalizes income distributions.
Through technology globalization, economies, civilizations, and societies become integrated into a globalized arrangement of political ideas. In a global world, improved technology is free to flow or move. Technology can be discoveries, inventions, and innovations. Technology built or discovered in one continent is shared for use or exploitation in other countries. Therefore with the advancement of technology, developing countries have developed technological know-how, which has led to improvements in their industries.
We quickly get the information needed for the different disciplines or subjects with an internet connection. The other sophisticated gadgets that we have now, like the computers, iPhone, iPod, tablets, smartphones, or any devices that would access the internet, are of great help for free, easy, and fastest way to exchange ideas and information.
Another benefit of technology globalization is an improved standard of living, wherein medical products, apparatus, gadgets, and services are being developed and improved. As it manifested that having this kind of apparatus and devices will promote the conservation and preservation of life. It helps for health care and longevity, so advancement will provide opportunities to improve life.
Most industries in developing countries can now work effectively, improving efficacy and making work more accessible. Furthermore, it saves time wasted by ineffective machines leading to increased profits and earnings. These multinationals are also responsible for employing many individuals from the investor states, reducing high levels of unemployment in these developing countries. Technology Globalization leads to high investment levels and therefore increased wealth. Wealth is generated through the economic gains of Technology globalization.
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Technology Globalization Influence over various fields
Globalization is a process of global economic, political, and cultural integration. It has made the world a small village; the borders have been broken between countries. ”The history of globalization goes back to the second half of the twentieth century; the development of transport and communication technology led to a situation where national borders appeared to be too limiting for economic activity”.
Globalization is playing an increasingly important role in developing countries. It can be seen that globalization has certain advantages, such as economic processes, technological developments, political influences, health systems, and social and natural environmental factors. It has a lot of benefits in our daily life.
Globalization has created new opportunities for developing countries, such as technology transfer holding out promise, more significant opportunities to access developed countries’ markets, growth, and improved productivity and living standards.
However, it is not true that all effects of this phenomenon are positive because globalization has also brought up new challenges such as environmental deterioration, instability in commercial and financial markets, and increased inequity across and within nations.
Technology Globalization impact on Economic and Trade Processes Field
Globalization helps developing countries deal with the rest of the world and increase their economic growth, solving the poverty problems in their country. In the past, developing countries could not tap into the world economy due to trade barriers. They cannot share the same economic growth that developed countries have.
However, with globalization, the World Bank and International Management encourage developing countries to undergo market reforms and radical changes through large loans. Many developing nations began to take steps to open their markets by removing tariffs and freeing up their economies.
The developed countries were able to invest in the developing nations, creating job opportunities for the poor people. For example, rapid growth in China has caused world poverty to decrease.
Technology Globalization impact on Education and Health Systems
Globalization contributed to developing the health and education systems in developing countries. We can see that education has increased in recent years because globalization has been a catalyst for jobs requiring higher skill sets.
This demand allowed people to gain higher education. Health and education are primary objectives to improve any nation, and strong relationships exist between economic growth and health and education systems. Through economic growth, living standards and life expectancy for developing nations certainly improve.
With more fortunes, developing nations can supply good health care services and sanitation to their people. In addition, the government of developing countries can provide more money for health and education to the poor, which leads to decreased illiteracy rates. This is seen in many developing countries whose illiteracy rates have fallen recently.
It is true that developing countries’ living standards and life expectancy increase through economic gains from globalization.
Culture Effects on Technology Globalization
Globalization has many benefits and detriments to the culture of developing countries. Globalization and imitation of other cultures, such as America and European countries, have changed many developing countries cultures. Before globalization, it would not have been possible to know about other countries and their cultures.
Due to essential tools of globalization like television, radio, satellite, and the internet, it is possible today to know what is happening in countries such as America, Japan, and Australia. Moreover, people worldwide can know each other better through globalization.
Furthermore, globalization leads to the disappearance of many words and expressions from the local language because many people use English and French words. In addition, significant changes have taken place in family life, young people are trying to leave their families and live alone when they get 18 years old, and the extended family tends to become smaller than before
In conclusion, as we can see, the process of globalization has involved all the countries around the world. Developing countries such as Pakistan, China, Africa, Iraq, Syria, Lebanon, and Jordan have been affected by globalization, and whether negatively or positively, the economies of these countries have improved under the influence of globalization.
The size of direct foreign investment has increased, and many bad habits and traditions have been erased, but also globalization has brought many drawbacks to these countries. Many customs and cultures are disappeared, such as traditions and clothes, and some languages and expressions have changed. In addition, violence and drug abuse are increased, and many deadly diseases have spread under the influence of globalization.
However, although globalization has many disadvantages, we believe that globalization has brought developing countries many benefits than detriments. For example, we can see there is more and a most significant opportunity for people in both developed and developing countries to sell as many goods to as many people as now, so we can say this is the golden age for business, commerce, and trade.