Question

Discuss globalization and the flow of knowledge.

Answer 1

Globalization in general is known as process of inter-mingling of people, businesses, governments across the world. It increases interaction between the main stakeholders of globalization - governments, multinational companies, and people.

Today's world is much more globalized than ever before. It doesn't just promote interenational trade among nations, but it has also brought mobility of labor - skilled as well as unskilled.

Globalization without flow of knowledge is incomplete. Mobility of skilled workers such as engineers, doctors, scientists, etc., across countries has brought transformation in how businesses take place. Another good thing about globalization has been that the flow of knowledge has been both ways. Engineers, and other high-technology workers from developed regions have brought revolutionary technologies to the developing world, likewise brain drain from developing nations to the developed ones has helped lower the cost of labor for the companies, tehreby increasing their productivity.

For a more prosperous, equitable and peaceful world, it is very important for globalization to continue along with full mobility of people across nations.