Category: Technology

Economic Globalization Is Fueled by Shared Information and Technology

Globalization pic
Globalization
Image: centives.net

Dr. Antonios “Tony” Antoniou has several academic degrees, including a PhD in applied economics, a bachelors of arts in economics, and a master of science in accounting and finance. Among Dr. Antonios Antoniou’s interests is the impact economics has on globalization.

Globalization refers to the interactions among people, governments, and business establishments of different nations. Among the factors that influence globalization, such as trade and exchange of information, economics factors in significantly.

Nations across the world are becoming interdependent on one another economically. The spread of technologies and the rise of internationally recognized forms of capital have contributed to this fact. Developing technology has made economic globalization a faster process in recent years because communication and transportation are so much more feasible, partially due to the reduced costs afforded by modern technologies.

As a result, global production is easier. For example, some consumer products, like cars, are much easier to produce at a lower cost because certain components can be made in different countries that have the resources and capacity to handle these jobs.