Describe the role of technology in shaping economic globalization.

• A. Improves communications, production, supply chains, and access to global markets; enables offshore manufacturing and digital services.
• B. It slows communications and isolates markets.
• C. It only affects consumer electronics.
• D. It has no effect on global trade.

Answer: (C)

Technology drives economic globalization by connecting countries and reducing the costs of cross-border trade and production. It speeds and cheapens communications, allowing real-time collaboration, market signals, and financial transactions to flow across borders. It transforms how goods are made and moved through integrated, automated production and logistics systems, enabling complex supply chains that span multiple countries. It broadens access to global markets through online platforms, e-commerce, and digital finance, so firms of all sizes can reach customers worldwide. It also makes offshore manufacturing and the delivery of digital services—from software to outsourcing—feasible and efficient by coordinating dispersed activities and enabling remote work and cloud-based operations. In short, technology lowers barriers, increases speed, and expands reach, amplifying the interconnectedness and scale of the global economy.