Drivers of globalization

If we take the first driver of globalization, the integration of the global economy has mainly been due to the rapid spread of IT and communications that enabled countries like India and China to circumvent hitherto aspects that were holding them back. In other words, the increasing interconnectedness was driven by real time communication between the West and the East .  · The media and almost every book on globalization and international business speak about different drivers of globalization and they can basically be separated into five different groups: Technological drivers. Political drivers. Market drivers. Cost drivers. Competitive drivers.  · The primary drivers of globalization are rapid advancements in technology, culture, economics and politics. With each passing year, the speed at which transactions take place and the spreading influence of cultural forces serve to integrate international societies. The most prominent driver of this trend is the advancement of www.doorway.ruted Reading Time: 2 mins.

Drivers of Globalization There are five most critical interrelated drivers of change ("Indian Business Environment: Globalization trends in Indian economy", n.d.): Foreign Trade: Lower the barriers to trade the more the competition increases. This actually means that globalisation is also driven by the economic motives of people. These motives have to do with shifting patterns of production and consumption from one place in the world to another (Tourism in the age of globalisation p. ). Drivers of Globalization 1. Decline of Barriers to Trade and Investment Decline in Trade Barriers Many of the barriers to international trade 2. Role of Technological Changes.

Various types of market drivers influence globalization. These include currency exchange rates, government policies such as tariffs and business-support infrastructure and consumer tastes and fads that are international in scope. Successful. This question is about Best Car Insurance for Teens Young Drivers @sydneygarth • 05/13/20 This answer was first published on 05/13/ For the most current information about a financial product, you should always check and confirm accurac. In our Driver Reviver review, we see if this driver update tool can find all the missing drivers for our aging computers. TechRadar is supported by its audience. When you purchase through links on our site, we may earn an affiliate commissi.