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What challenges do gig workers face?
What challenges do gig workers face? Gig workers face several challenges, primarily revolving around the nature of temporary, project-based...
What challenges do gig workers face? Gig workers face several challenges, primarily revolving around the nature of temporary, project-based...
Globalization means growing interdependence and integration of economies, societies and cultures from across the world. It is brought about by cross border trade of goods, services and technology and flow of investment and people.
ReplyDeleteIn the human world ‘resource’ is anything that can be used to fulfill our needs and wants. Often some resources are abundant while others scarce in every nation.
The relations between globalization and new technology in the world of scarce resources have varied facets. The positive aspects can be seen as follows:
Globalization has made it possible to access scarce resources: Globalization has led to easier access to new technologies to all the regions of the world.
Example: Lithium is present only at certain places, but it is extracted and sent to far away places and is being used in electronic gadgets globally. India is one of the biggest users of electronic items.
Globalization has made it possible for nations to move beyond one’s resource restrictions: The technologies of the developed countries are being transferred & used in the developing & least developed countries.
ReplyDeleteExample: Technology is the reason why water-scarce countries in West Asia are able to satisfy their needs. Globalization allows for this technology to be shared with other countries facing water-scarcity like India.
Easier to extract maximum potential of scarce resources and reduce the demand for certain resources: Globalization can help to increase the efficiency of resource use by allowing countries to specialize in the production of certain resources and trade them with other countries. This can help to reduce the overall demand for resources.
ReplyDeleteExample: New technologies such as renewable energy sources can help to reduce the reliance on non-renewable resources, such as fossil fuels.
More power to consumers: Globalization has allowed for greater competitive markets which ultimately benefits the customer with respect to improved quality of goods and services and reduction in cost.
ReplyDeleteExample: Internet has become the mainstay of today’s society as it has become cheap and India is one of the biggest internet users.
Uniform standards: Development of technology along with globalization has made it possible to develop uniform standards that allow for greater interoperability and wider reach of products.
ReplyDeleteExample: Mobile phone technology has uniform standards that allows for phones manufactured anywhere to be used anywhere globally. Similarly, solar panels, pharmaceutical products, etc are produced in India for the world because of uniform standards.