Describe how the internet has been spreading around the world connecting countries at faster bandwidths and...

Describe how the internet has been spreading around the world connecting countries at faster bandwidths and explain what sorts of things are being carried by it between countries.

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Expert Solution

The role of internet is immense in connecting countries globally. With the help of internet and modern software's, international communication and transaction becomes less expensive and less time consuming.
The globalisation creates an environment of free flow of goods and services, technology, capital and free movements of labor. The real essence of globalization lies in the better bandwidths and proper communication systems.
The internet constitutes around 25% of GDP in several mature economy. The internet is a predominant factor in international trade and capital flows. The buying and selling process, export and import transactions, international capital flows are guided by well developed global communication system via internet and related services.The cross border consumption and supply, regulatory transparency, economic accessibility made easy via global networks. The internet openness enhance and broaden customer base via e-commerce. The global internet openness make it possible to deliver products and complete transactions, faster payments etc.
The domestic and foreign investors benefited from internet openness. They can transfer capital from anywhere with easy and quick responses. The international banking sectors are influenced by e-banking facilities. Thus we can summarise that, the higher speed internet facilities that connects countries helps in achieving economic prosperity.

Rahul Sunny answered 2 years ago

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