Briefly analyze the drivers and consequences of globalizatio

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Drivers

The key drivers behind globalization are declining communication and transport costs, worldwide move to the market liberalization and the incorporation of billions of people into the world market.
The hallmark of the first era of globalization in the late 19th and early 20th century was the reduction of transport costs (i.e. lower sea freight and air transport). In the 21st century, the big transformation will be the reduction in the marginal cost of collating and disseminating information. We already see evidence of this by increasing internet penetration. The "information revolution" is just the beginning, and its full implications are still unknown.

Since the mid-1970s the world has seen a global ...