International Trade in a Global Village - Research Paper Example

rks and innovations in the transport industry have facilitated faster and efficient interaction between world citizens hence allowing a clean environment for international trade to take place. This paper is a critical evaluation on globalization and its impacts on the contemporary society. Globalization has transformed the world, virtually from a planet of 7 continents into a global village. This has been made possible by inventions in communication technology such as internet, satellites, telephony among others which have created a platform for real time exchange of data and information.

Through the internet, for example, it has become possible to chat with people in distant nations, through platforms such as Skype, facebook, Twitter, video conference among others. Today, one does not need to travel to Japan to buy and import a motor vehicle. E-commerce utilizes the internet whereby traders are facilitated with a platform to host websites on the World Wide Web, which can be accessed by consumers from any corner of the world. With a click of a mouse, one can negotiate, order a vehicle or any other merchandize, pay through credit card or any other means such as wire transfer, and wait for the items to be delivered to his doorstep (Tomlinson, 2011).

Indeed, reports indicate that business transactions over the internet was valued as $16 trillion as at 2012. The invention of aircrafts, trains, ships and motor vehicles made it possible to travel from one nation to another and continent to continent in search of jobs, markets and suppliers, thereby enhancing one on one interaction of individuals from different cultures and backgrounds (Singer, 2013). Globalization has been of great economic benefit to world economies. Numerous multinational companies have invested heavily in subsidiaries around the world where they employ locals and engage in corporate social responsibility, especially in third world countries, which have little to invest in infrastructure, schools and