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What Is Globalization?
corporationshave been buying from and selling to each other in lands at great
distances, such as through the famed Silk Road across Central Asia that
Challenges to globalization
Rise of nationalism
the rise of nationalism in many western countries and India has greatly impacted
many companies and countries. The rise of nationalistic tendencies led to the
cancellation of American company carriers move to Mexico to set up a new
Indias recent political and military stand off against china at Doklam also
them)
does have its barriers. Some economies dont participate in the global economy
or other barriers. There is, however, a movement that includes more economies
in this global market place. To combat the trade barriers that exist, free trade
zones (FTZ) have been established around the world, usually near seaports,
zones are also established to reduce poverty while providing jobs and
these areas. The benefits of free trade agreement are that it reduces tariffs,
thereby reducing the cost of the product for the customer. It also provides an
incentive to many organisation to relocate and start trading goods at the free
zones. This often stimulates the economy. Recently however, many of the free
trade agreements have come under scrutiny. North American Free Trade
Agreement (NAFTA) which is a free trade agreement signed by the United States
of America, Canada and Mexico to promote trade and globalization, is now being
renegotiated. Trans pacific partnership (TPP) an agreement between the United
States of American and 12 other pacific countries to promote trade has now seen
the United States backing off and exiting the agreement. The transatlantic trade
and investment partnership (TTIP) which was a trade agreement between the
United states of America and the European Union is also cancelled. This was
because of the resentment for such trade deals by the citizens of the both sides.
Restriction on free movement of people and free flow of information are also a
Europe with the creation of European Union (EU), but the rising nationalistic
benefit from the free movement of people and goods in the EU and are based in
the UK. The world trade organisation was set up with the intention of improving
global trade and creation of a framework for trade settlements. China is one of
or strictly regulating the Internet. China is one of those countries where the
citizens can access information that is approved and authorised by the Chinese
government.
Foreign direct investment has become perhaps the single most powerful force
Foreign direct investment has also spread new technologies and improved skill
flows.
We have to stress the need to invest in training and education to ensure that
workers have the skills needed to succeed in the new global market. The future
impact of globalization will vary from country to country and within countries.
But efforts to resist the powerful technological and economic forces behind
futile. Rather than fear the future, we must redouble our efforts at international
regional institutions to promote open trade and investment and prosperity for
all. This is the best way to ensure that the benefits of globalization will spread to
http://www.globalization101.org/what-is-globalization/
https://www.texasgateway.org/node/10086
http://indianexpress.com/article/india/india-china-trade-war-looming-doklam-
standoff-sikkim-arunachal-pradesh-4796337/
https://en.wikipedia.org/wiki/Transatlantic_Trade_and_Investment_Partnershi
https://en.wikipedia.org/wiki/Trans-Pacific_Partnership
https://www.mtholyoke.edu/acad/intrel/spero.htm
Technology
Advances in technology are one of the main reasons that globalisation has
innovations have become smaller in size, more efficient and often more
Whether for personal use or for business, technology has made the world seem
communication technology
decade.
by defence personnel in the United States, easy access to computers and related
technology have made using the internet a common activity in more recent
times.
are accessible using the internet. It enables people from almost anywhere in the
world to access information on almost any topic from shopping to weather
Transport technology
Over 100 years ago, the Industrial Revolution changed the nature of transport
with the invention of the steam engine and the combustion engine. Since then,
Transport for personal use has improved dramatically. Cars are now built to be
faster, safer, more fuel efficient and therefore cheaper to run, as well as being
Airline transport has also enabled the expansion of tourism and trade across
around half a century ago, they have dramatically improved within that time.
Airline travel has not only become more affordable in the last 20 years but it has
also become faster. In the mid-1930s, eleven people could fit into an aircraft on
a flight from London to Bangkok which took eight days, now the same journey
Before advent of technology in banking, banking and transfer of unds was a time
system. Electronic Fund Transfer (EFT), is the first operating form of global
electronic financial networks. With EFT it is possible to send and receive financial
Artificial Intelligence (AI) is now a major disruptor for many industries. Industries
like transportation and hospitality especially face severe competition from AI.
learning technologies which are shall we say quite reliable. If you read
machine learning papers, an individual technology will often be right 99% of the
time Thats pretty spectacular for most machine learning technologies But
99% reliability is not going to be nearly enough for a safety critical technology
like autonomous cars. So I think one of the very interesting things is how you
assist, rather than the level of an individual algorithm, is delivering the kind of
very high reliability that of course were going to demand from our autonomous
the beginning.
AI, cab drivers are being replaced with AI drivers. AI can multitask and are not
affected by distractions, hence they make better drivers. Human cab drivers will
soon be replaced.
AI is also now starting to disrupt another field, investing and day trading. An
example is the Silicon Valley based start-up by Babak Hodjat. Babak Hodjat
"Humans have bias and sensitivities, conscious and unconscious," says Hodjat, a
computer scientist who helped lay the groundwork for Apple's Siri. "It's well
those human-based intuitions and justifications than relying on purely what the
Hodjat, with 21 patents to his name, is co-founder and top scientist of Sentient
training an AI system that can scour billions of pieces of data, spot trends, adapt
vets is betting that software responsible for teaching computers to drive cars,
beat the world's best poker players and translate languages will give their hedge
https://www.bloomberg.com/news/articles/2017-02-06/silicon-valley-hedge-
fund-takes-on-wall-street-with-ai-trader
http://www.un.org/esa/sustdev/publications/industrial_development/1_2.pdf
http://www.technologist.eu/the-challenges-of-artificial-intelligence/
https://techcrunch.com/2017/06/17/a-discussion-about-ais-conflicts-and-
challenges/