Globalization Refers To The Interaction Essay Example

document production. Additionally, large and bulky mobile phones were only carried by a few users in select U.S. cities just 15 years ago [6]. However, globalization and technological advancements have revolutionized industrial processes today. One notable example is the invention of computers which has led to faster work and improved productivity in offices. As globalization and technology continue to rapidly grow, expectations have also risen accordingly. For instance, the invention of smartphones allows people to read emails on-the-go leading to an expectation for corporate individuals to respond almost immediately. Another recent technological advancement mentioned in [6] is fiber opticsThe installation of fiber optic cables has greatly improved telecommunication networks' speed and capacity over the past decade. However, globalization brings disadvantages such as job loss due to technological advancements and outsourcing. Computers and machines have replaced human labor, resulting in unemployment. Additionally, companies are increasingly hiring workers from developing countries for their lower labor costs. Singapore has experienced a significant influx of foreign workers from China and India who demand lower wages but exhibit high productivity. As a result, job opportunities have decreased and salaries have declined. Research shows that globalization widens the wage gap more significantly for low-skilled jobs. Moreover, cultural diversity is affected by globalization as economically powerful nations dominate with their cultures. Wealthier countries shape global markets through imports and exports like clothing, movies, and technology, leading to increasing westernization of the world. Consequently, many individuals abandon their traditional customs, posing a threat to smaller cultures at risk of extinction. A notable example is the decline in listenership of locally produced music in Singapore today.