What is globalization? Reasons for enhanced pace of globalization and its advantages and disadvantages

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Globalization refers to the process of increasing interconnection and interdependence among countries, economies, societies, and cultures across the world. It involves the free flow of goods, services, capital, information, technology, and people across borders. In essence, globalization leads to a shrinking of the world in terms of communication, trade, and cultural exchange, creating a global village where interactions between distant regions become faster, more frequent, and more influential. This phenomenon has transformed how nations operate, making local economies more integrated with global systems, and has affected social, political, and environmental aspects of life, including sustainable development and urban planning, which are essential for smart cities. One of the primary reasons for the enhanced pace of globalization is advancements in technology. Information and communication technologies (ICT), including the internet, mobile networks, cloud computing, and digital platforms, have dramatically reduced barriers to communication, allowing individuals and businesses to connect instantly across continents. Similarly, transport technologies, such as modern aviation, high-speed rail, and container shipping, have enabled faster and more cost-effective movement of goods and people worldwide. The reduction in transportation costs has particularly facilitated international trade, allowing products to reach new markets quickly. _________ _________ _____________ _________ ___________ __.
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Degree : MASTER DEGREE PROGRAMMES
Course Name : Master of Arts (Urban Studies)
Course Code : MAUS
Subject Name : Sustainable Development and Smart Cities
Subject Code : MEDS -048
Year : 2024 2025