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Causes of Globalisation - Coggle Diagram
Causes of Globalisation
Technology
Toward the end of the 20th century, information became a new form of capital in modern business.
1970s and 1980s: Telecommunications advances came into existence, including modern communications satellites to transmit data around the world
By the late 1990s, integrated digital networks were being developed to create a global voice, data, text, and video system.
At the same time, large computer networks, such as the Internet, permitted modems—devices that transmit data through phone lines—to link individual computers to other computers throughout the world.
1993: Internet usage exploded when commercial providers were first allowed to sell Internet connections to individuals
Containerization
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The utilization of all available resources allowed containers to easily transfer a large amount and a variety of goods.
Trade Liberalization
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To stimulate economic activity, the North American Free Trade Agreement(NAFTA) eliminated most trade tariffs between Mexico, Canada and America.
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It enables countries to specialize in goods or services that they are known for and enhance production.
It can cost jobs and even lives when cheaper goods flood a market. Many economies are not equipped to compete with free trade, especially in more developed countries.
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