Drivers of Globalization : UGC NET Commerce Notes & Study Material

Globalization refers to the connection of people, businesses, and countries across the globe. Perhaps the most crucial driver of globalization is technology; especially the Internet, which aids people in rapidly and easily getting in touch regardless of where they are. Other important drivers of globalization include trade, whereby a country buys from another country goods to sell the products in a place where otherwise they would not have been found. Transportation, like airplanes and ships, makes it easier to move goods and people across long distances. People also have to travel more for work, study, or leisure purposes, bringing other cultures closer to one another. Businesses open in new countries, creating jobs and sharing ideas across borders. Social media allows people to share their thoughts, pictures, and videos with others around the world. This includes education as the students are learning about the other cultures and lifestyles. It is also promoted by the development of large firms operating in a wide range of countries. These drivers make the world feel small with everyone connected to each other than ever.

Drivers of globalization is a vital topic to be studied for the commerce related exams such as the UGC NET Commerce Examination.

In this article, the readers will be able to know about the following:

• Meaning of Globalization
• Drivers of Globalization

Globalization Meaning

Globalization is when the world becomes more connected and people, ideas, and products can move easily between countries. It means that things from different parts of the world are shared with each other. For instance, you can buy a toy made in another country or eat food from different cultures. Globalization happens because of things like travel, technology, and trade. It also makes it easier for people to talk to each other no matter where they live. Overall, globalization makes the world feel smaller and more united. It helps countries work together to solve problems and share new ideas.

Drivers of Globalization

Globalization is driven by a complex array of factors that work together to increase the interconnectedness and interdependence among nations, economies, and cultures. Understanding these drivers provides insight into how globalization evolves and the diverse ways it impacts the world. Here are the main drivers of globalization in detail:

Technology

Technology is perhaps the biggest mover of globalization. The internet facilitates easy communication among people from around the world. Information is received instantly. Facebook and Instagram allow people to get in touch with each other no matter where they are. Goods and people move faster and at a cheaper price due to developments in transportation- airplanes and ships. Many countries can be a market for a business to sell its products to. This will make the company grow, and people can acquire goods from other parts of the world.

Trade

Trade is another factor that pushes globalization. If countries exchange their goods, they are developing economically. For instance, a country with more oil can exchange it with a country that has more electronics. Trade lets countries acquire what they lack and sell what they are good at making. It helps encourage nations to work together and rely on one another for what they want to produce or obtain. With more trade, businesses become international and can sell their products around the world.

Transportation

Transportation has connected the world like never before. People and goods can now move between countries much quicker due to the faster airplanes, trains, and ships. This is to say that people can now travel for work, vacation, or business meetings across the globe. It allows businesses to transport products to new markets, thereby helping them grow. The more it is possible to travel cheaper and faster, the more the countries are going to trade and work together. As transportation improves, globalization continues to expand.

Cultural Exchange

Cultural exchange is when people share their ideas, traditions, and values with others from different places. This can occur through traveling, watching movies, or even online. As people begin to learn about a culture, they tend to be more understanding and respectful of each other. This forms a more connected world in which people can enjoy and celebrate differences. The sharing of music, food, art, and other cultural things also unites people. Cultural exchange makes the world a smaller and more friendly place.

Education

Education is very significant in globalization since it assists different countries' people to learn from one another. Students can now take classes online with instructors from other countries, or even attend universities far from home. This sharing of knowledge makes the new ideas and discoveries spread much faster. Since people learn something new from the other cultures, they can carry that knowledge to their home countries. This enables the improvement of societies and opportunities for businesses to grow internationally. Education allows people to understand one another better, and work towards solving big problems.

International Organizations

International organizations are groups made up of different countries that work together to solve global problems. For instance, the United Nations helps countries collaborate on issues of peace, health, and environment. These organizations encourage countries to communicate and cooperate with each other, which makes globalization stronger. They also help set rules for trade, protect human rights, and promote economic growth. International organizations help make the world a more connected and peaceful place. By working together, countries can face challenges they couldn't solve alone.

Conclusion

All things considered, globalization is an integral part of the world we are living in. It helps facilitate the sharing of ideas, products, and cultures between people in different countries. Technology, transportation, and trade have made connecting with others in the world so much easier and closer than before. The globe has become small, and individuals are closer than ever. Business can grow with the creation of jobs in so many countries with globalization. It also allows us access to a wider variety of goods, foods, and experiences from other places. But not to forget, it can cause some challenges, such as hurting local businesses or the environment. Still, when countries work together, they are solving some of the problems and thus making the whole world a better place. As we continue to grow and connect with others, globalization will keep shaping our future. It's up to us to make sure that we use it in positive ways for everyone.

Drivers of GLobalization is a vital topic per several competitive exams. It would help if you learned other similar topics with the Testbook App.

Major Takeaways for UGC NET Aspirants Globalization helps in growing interconnectedness and interdependence of the world's economies, cultures, and populations. Drivers of Globalization Technology: Technology is perhaps the biggest mover of globalization. The internet facilitates easy communication among people from around the world. Trade: Trade is another factor that pushes globalization. If countries exchange their goods, they are developing economically.  Transportation: Transportation has connected the world like never before. People and goods can now move between countries much quicker due to the faster airplanes, trains, and ships. Cultural Exchange: Cultural exchange is when people share their ideas, traditions, and values with others from different places. Education: Education is very significant in globalization since it assists different countries' people to learn from one another.  International Organizations: International organizations are groups made up of different countries that work together to solve global problems.

Drivers of Globalization Previous Year Questions

1. What are the drivers of globalization?

Ans. A) Population mobility especially of labour

1. B) Financial flows
2. C) Exporting
3. D) Assembly operations

Ans. A) and B)