TECHNOLOGICAL DEVELOPMENTS

Technological developments have been credited with rapid growth in global trade. Discuss how this has impacted global

Technological developments have been credited with rapid growth in global trade. Discuss how this has impacted global

Introduction

Technological evolution is the name of a theory of science studies, technology and society (STS) to describe the historical development of the technology. The concept is confluent with that of the technological revolution, because only during periods of greater acceleration in innovation is a marked difference between the concepts of rhythm, and significant violence between the generic concepts of evolution and revolution. During most of the history of mankind, the pace of these innovations was slow and imperceptible.

With the technological revolution name or scientific-technical revolution, generally refers specifically to the technical change, economic and social third industrial revolution since the second half of the twentieth century, although it is often used the term to refer to the first two major transformations that have earned the name of economic revolution. Technological developments have been credited with rapid growth in global trade, and made trading very easy between organizations and customers. It has also made trading, easy within the country and in other countries globally (Anderson, 2000, pp. 67-73).

In this paper, it will be discuss that how technology developments have been credited with rapid growth in global trade and its impacts on a global level. The major factors of technology development are E- business and E-commerce, which made the trading globally around the world.

Role of Internet in Rapid Growth of Global Trade

The global information networks are transforming the world and bringing more people through innovation in global communications, which allows changes in all spheres of human activity, such as competitiveness, employment and quality of life of nations. With advanced technology, time and distance are no longer obstacles the content may be directed to a mass audience or a small group of experts and find a global or merely local. Global information networks like the Internet knows no boundaries.

Internet is a global communication medium, which allows the exchange of information between users connected to the network and connects to about 8 million servers responsible for information services and all operations and broadcast media, comes to about 250 million users in over 100 countries. Internet offers a unique opportunity, special and critical to organizations of all sizes.

The rapid spread and the great interest in the computer world has enabled the creation of Internet Technology/Web, a fundamental tool for computer networks and their users. Internet offers a new market that defines the "digital economy." Producers, suppliers of goods / services and manage user access and global transmission of information and entertainment in a simple and economic, whether commercial or social. The opening of markets is essential for rapid growth in the use of new services and the assimilation of new technologies. In practice, companies are beginning to use the Internet as an additional sales channel, replacing personal visits, e-mails and telephone orders, as running an online order costs 5% less to ...