The definition of technology globalization is the technological diffusion’s increasing speed across the global economy. Technology is spreading around the world, especially from developed nations to the developing ones. This globalization is labeled as technosphere.
That word means that technology is both the cause and effect of globalization. With globalization’s effect, technologies can spread much more easily, by the help of political globalization and also economic globalization. What are the examples of this technological globalization?
Technology Globalization Examples
To understand this globalization, people need to know the examples of this globalization. Below are various examples related to technological globalization.
- Media globalization
The spread of technological knowledge and technology itself brings a lot of effects, especially if the technology comes from the developed world. One of the effects is the globalization of media on various technologies such as cell phones and computers.
- Manufacturing mechanization
Another effect of technology globalization is that more manufacturers start using machines. When those manufacturers leverage more machines, there will be two effects. The manufacturers will need lower labor costs and create cheaper products but some employees may lose their job.
- Mobile banking
Mobile banking allows people around the world to access their money easily at home and anywhere they are at a much faster pace. Incredible smartphone apps for stock trading also allow people to own capital faster than ever. This helps speed up globalization while lowering the start-up capital cost.
Various Technology Globalization Advantages
This globalization brings a lot of benefits in various sectors. Below are just some benefits that are carried by technological globalization.
- Technological innovation is getting faster
Technology that spreads globally enables engineers and scientists around the globe to engage in wider and global competition. Every nation can now observe the innovations of the other nations and then build on those innovations in order to develop their technology in a much faster way.
- Reduces poverty
The World Bank figured out that this technology globalization can reduce the rate of poverty around the globe. Technological progress that is rapid in various developing countries has been able to reduce poverty in the last decade.
- Economic growth
The World Bank also found that globalization in technology can contribute to rising domestic productivity levels in emerging and advanced economies. Technologies will help people produce products more efficiently and at a cheaper price so the businesses can scale faster.
- Ease the international trade
Digital technologies can help speed up the customs at various nation state borders and help move money in a much more efficient way. The improvement of air flight innovation can even help move goods in a faster way.
Technology Globalization Also Brings Disadvantages
Though globalization brings various advantages, there are some disadvantages carried by this globalization. Everybody should learn about both advantages and disadvantages of this globalization. Here are some disadvantages of technological globalization.
- The workers are being replaced by machines
The latest technologies that are implemented in various factories can replace workers in various menial tasks. This is good for making cheaper products, but many people worry about their job. Those technologies may leave many people disillusioned and unemployed.
- Fake news is arising
The internet technologies enable everyone to develop blogs, YouTube channels, and podcasts. When the information is being spread, the control is gone. People are worried about the new technologies. That those technologies may allow for extremist organizations and theorists to spread their theories.
For many people, technology globalization is a nice thing. But for industries, this can be something scary. However, there are more advantages of technological globalization than the disadvantages. Learn about the advantages and disadvantages of this globalization from details on this page