Globalization 1.0—The Columbus days when we first explored the world and realized there were other civilizations...

Globalization 1.0—The Columbus days when we first explored the world and realized there were other civilizations on earth

Globalization 2.0—The 1800s through the industrial revolution when multinational corporations began to conduct business overseas

Globalization 3.0—The utilization of different countries to increase efficiency and lower costs

Globalization 4.0 - enables people to instantaneously conduct business and promptly access files from anywhere.

Are we entering Globalization 4.0?

Look for any evidence of that in the news and give examples.

Expert Solution

We are already into the phase of globalization named as Globalization 4.0. It is made possible due to the development and expansion of internet based technologies. For example, in the USA, the web platforms such as eBay and sell.com creates opportunities of the efficient trade between the buyer and sellers. Here, sellers don’t need to be in institutional form. Rather, individuals can also sell the products and services. It is only made possible due to the internet based technologies. On a similar note, web portals such as fiverr.com or freelancer.com are the place where global connectivity to the buyer and sellers are provided and files are frequently accessed. In true sense, such platforms connect buyers of the services to the service providers. As a result, the globalization 4.0 is realized. Expansion of eCommerce in different forms and platforms that is also connecting people with each other. Here, the global version of the eCommerce web portal supports the local versions of their web business. For example, amazon.com complements amazon.in in soft-copy sell of the eBooks.
These evidences support that we are already into the globalization 4.0.

Rahul Sunny answered 2 years ago

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Globalization 1.0—The Columbus days when we first explored the world and realized there were other civilizations...

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