Economic Growth and Development - Globalization

 Globalization – Globalization is a term used to describe the increasing connectedness

and interdependence of world cultures and economies
 Communication - the exchange or transfer of information between a sender and a
receiver. Communication does not have to take the form of words only, we can
communicate through a nod, a shrug, a wave, by looking at someone or simply listening.
 Communication technology – Communication technology, also known as information
technology, refers to all equipment and programs that are used to process and
communicate information. Examples include smart phones, tablets, etc.
 Information Communication technology (ICT) - the use of computers and other
electronic equipment and systems to collect, store, use, and send data electronically.
 E-commerce – short for electronic commerce, refers to buying and selling products and
services via the internet (online) and computer networks.
(Source of definitions - https://dictionary.cambridge.org)
 Mass Media – the media technologies that are used to reach large numbers of people,
such as newspapers, radio, movies and television, electronic media which is internet-
based.
This class will look at the impact of modern communication technologies on Globalization. For
example the impact of the mass media (print, electronic), social media, music, the internet, etc.
on globalization of culture, globalization and the economy, etc.
The world is often referred to as ‘a global village’ now, since all the countries of the world are
interconnected. But that has brought with it both positive and negative effects.
For the most part, modern communication technologies have helped the globalization
process because it has:
 Made communication among countries faster, easier & cheaper. For example, anyone
can have a meeting with another person or any number of persons throughout the world
at any time, on their smart phone, tablet, using zoom, google teams, etc.
However, this has resulted in negative effects on communication as well,
– e.g. wrong information can be shared, to countless persons in a short space of time, that can
even cause a panic.
- Also cyber-crimes and cyber bullying have resulted, so these are negative effects of
modern communication technologies on globalization.

 Modern communication technologies have made trade easier – trade is a major aspect
of globalization. Thus it has helped economic globalization. For example, we can now
purchase items online – through online shopping, we can have a sky box so we so not
need to actually travel abroad to shop. This is made easier through the internet and online
shopping agencies like Amazon, etc. Many stores now offer online shopping as well.
 Modern communication technologies have also created several jobs – e.g. you tubers,
online education, etc.
In addition, persons can invest and buy and sell stocks online, monitor stock markets, etc.

 It has made it easier for the countries needing assistance to get the help they need – thus
helping social globalization. This has happened through the formation of international
agencies like the United Nations, Red Cross, etc, which now have connections or
‘chapters’ throughout the world. Also, issues experienced by various groups are
highlighted through social media and the mass media – e.g. the recent black life matters
issue in the U.S.A. which spread throughout the world and caused riots and protests in
other countries as well, including Trinidad. This was done through the mass media and
social media. However, we can see the negative effects of this as well.

 Modern communication technologies have helped in the globalization of culture

because aspects of culture are shared throughout the world through information on the
internet, mass media, etc. Modern Communication technologies have also helped in the
continuity, protection and preservation of traditions and culture by sharing information
globally about different cultures, by protecting aspects of culture, encouraging the
practice of culture, etc. Examples include songs and music videos about culture (like on
tic tok), webinars (online seminars) and conferences on culture, etc.
 1. What is one negative effect of modern communication technologies on economic
globalization or trade (e.g. how has online shopping negatively affected trade or our
economy ? )
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 It has made it easier for the countries needing assistance to get the help they need – thus
helping social globalization. This has happened through the formation of international
agencies like the United Nations, Red Cross, etc, which now have connections or
‘chapters’ throughout the world. Also, issues experienced by various groups are
highlighted through social media and the mass media – e.g. the recent black life matters
issue in the U.S.A. which spread throughout the world and caused riots and protests in
other countries as well, including Trinidad. This was done through the mass media and
social media. However, we can see the negative effects of this as well.

 Modern communication technologies have helped in the globalization of culture

because aspects of culture are shared throughout the world through information on the
internet, mass media, etc. Modern Communication technologies have also helped in the
continuity, protection and preservation of traditions and culture by sharing information
globally about different cultures, by protecting aspects of culture, encouraging the
practice of culture, etc. Examples include songs and music videos about culture (like on
tic tok), webinars (online seminars) and conferences on culture, etc.
2. How has the globalization of culture been negatively affected by modern
communication technologies?
E.g. – Pure forms of culture are fading away because combinations of , the culture of the
more powerful countries and new cultures are being highlighted by modern communication
technologies.
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3.Globalization in terms of health has also been helped with the use of modern communication
technologies. Can you say how?

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 - How has globalization in terms of health been negatively affected by modern
communication technologies?
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Globalization in terms of the environment – modern communication technologies have
affected the environment both positively and negatively.
- Can you say how modern communication technologies in the form of the mass media
and social media have positively affected globalization in terms of the environment?
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- Modern communication technologies have impacted upon globalization in terms of the
environment negatively due to pollution (from increased factories, waste products of
technology, emissions of energy from phones, cell phone towers, etc). The whole world
is being affected by the pollution emitted by some countries, for example through global
warming, pollution of the oceans, etc. List other negative effects here if you can.
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More about the impact of modern communication technologies on globalization and the
economy.
Why is ICT so important for globalisation of businesses? Because:
- It speeds up communication among staff members within the business
- Customers can access information quickly and easily anywhere in the world.
- Electronic transfer of information is cheaper.
- Transfer of large amounts of information between countries allows foreign owned
companies to manage their overseas factories easily. This supports globalisation.
- Digital products develop, they are usually cheaper for global customers than shipping a
physical product all over the world.
- Targeted advertisements communicate messages to people most likely to buy.
- Storage and retrieval of information and communication is more effective than keeping
physical records.
- Electronic transfer of money allows e-commerce
 - Anybody, anywhere in the world can buy and sell the same product cheaper, location
doesn’t matter as much.
- A physical store is no longer necessary, less rent, workers, utility bills, open 24/7, no
change/cashier so it is safe.
6. Explain one advantages of online banking and 2 disadvantages of online banking.
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7. Here we will examine how communication technology can be used to improve the economy of
Trinidad and Tobago. How can it be used to:
(a) Help a farmer from the countryside who is selling fresh produce?
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(b) Help the owner of a tour guide company for local and foreign tourists?

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