Question

Explain any two major causes of globalization.

Hint:

Technology and trade policies are the backbone of globalization, linking economies and markets.

Answer 1

The primary drivers of globalization are:
1. Technological Advancements: Rapid progress in communication technologies, such as the internet and mobile networks, has fostered global connections for individuals and enterprises. This has facilitated the cross-border movement of information, capital, and services.
2. Trade Liberalization: The decrease in tariffs and trade impediments via international accords like the WTO has promoted the international exchange of goods and services, thereby stimulating global commerce and economic integration.