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Globalization and technology are intimately intertwined. The movement of people, goods and ideas is accelerated and broadened by new forms of transport and communication. And technological development is, in turn, enhanced by the diversity of ideas and the increased scale that comes from global reach.
During each phase of globalization, technology has played a defining role in shaping both opportunities and risks. As the Fourth Industrial Revolution drives a new phase of globalization – “Globalization 4.0” – here are five things we can learn from looking backwards, and forwards, at the impact of technology.
1. Even as technology improves, globalization is not inevitable
While it may be tempting to think of globalization as a core characteristic of modernity that has steadily progressed since the First Industrial Revolution, this is not the case. The last major reversal occurred thanks to the First World War and the subsequent period of economic turmoil. Indeed, levels of global economic integration reached a peak in 1914 and it took until the second half of the 20th Century for these heights to be recovered.
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