Economics
How is information technology connected with globalisation? Would globalisation have been possible without expansion of IT?
Global & Ind Econ
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Answer
Globalisation would not have been possible without expansion of IT. Information technology (IT) and globalization are deeply intertwined. Information technology plays a pivotal role in facilitating the interconnectedness by enabling rapid communication, data exchange, and access to information across borders. For instance:
- IT allows instant communication through emails, video calls, and social media. This real-time connectivity bridges geographical gaps and fosters global collaboration.
- IT systems handle international transactions and e-banking, which forms basis of trade.
- IT optimizes supply chains, tracking goods from production to delivery globally.
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