Which factors have stimulated the globalisation process?
The following factors have stimulated the globalisation process.
- Improvement in transportation: In the last fifty years, there have been a lot of improvements in transportation technology. This has made faster delivery of goods across long distances possible, at lower costs.
- Development in information and communication technology: Technology in the areas of telecommunication and computers has been advancing rapidly.
- Telecommunication: Telecommunication facilities like telephone, telegraph, mobiles, fax are used to connect people in the world. This has been made possible due to satellite communication devices.
- Computers: They have now entered almost in every field of activity. In the amazing world of internet, we can obtain and share information on almost anything.
- Internet: Internet also allows us to send instant electronic mail (e-mail) and talk (voice mail) across the world at negligible cost. Even the payment of money from one bank to another can be made through e-banking.