Globalization Essay Example | Topics and Well Written Essays - 500 words - 24

Globalization - Essay Example Depending on the merits and merits of globalization to various states, proper measures are instituted accordingly. Various factors will continue to encourage globalization. On the first note, improved technology will continue to serve as the primal driver of globalization. Technology advents such as the internet and mobile phones have played a major role in bringing globalization to its current state. Technology will continue to spread across the world since it is the main force behind significant integrations. Improved technology translates to better communication and information sharing (Ashford & Hall, 2011). Secondly, the world is undergoing a period of increased free trade. Free trade will continue to be an important factor of globalization since it has earned the support of World Trade Organization (WTO), which encourages global trading. Thirdly, stepped-up mobility of labor from one country to another will promote globalization. Developing countries have come to realize the big role that remittances of global trade plays in their economies. Fourthly, meliorated mobility of capital in the past few decades will stretch into the future to step-up the pace of globalization. Capital barriers have been trivialized, making it possible for capital to flow to and from various economies. In effect, firms are able to acquire financing, a trend that will continue to the future. Fifthly, a drop in the cost of transportation is not expected to deteriorate in the future. The advent of containerization means that the distribution of products, across the world, is cheaper. Consumers in all parts of the world will continue to access products, thanks to the reduced cost of transport (Zedillo, 2014). In unison, these factors will correct the pace of globalization that has been affected by the financial crisis in the world. All the same, there are factors that will hinder the prosperity of globalization. First, the increasing concern of environmental