The Impact of Globalization through Technology on Global Economy (Essay Sample)

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The Impact of Globalization through Technology on Global Economy
Globalization, through technology, represents a phenomenon that transforms ways in which companies and countries trade, invest in capital, and improve production practices. The process of globalization facilitates the internationalization of markets, competition, improved financial systems, and industries on an international scale (Bang, Erik, and Markeset 233). Technological advancements remain the primary factor that facilitates the ever-increasing globalization. Aspects of globalization through technology, including advanced transport systems, efficient communication and information technology, and better banking systems, accrue a significant impact on the global economy.