What are the drivers of globalization?

1. Communication : example : Internet . Internet provides easy and effective communication thus reducing the time needed to exchange details. It also provides opportunity identify new markets and new products.

2. Connectivity : example : Transportation: Air, sea and other surface based transport enable movement of goods and people.

3. Knowledge : Knowledge of markets and regulations.

4. Standardisation : example : Accounting standards. IFRS provides uniform way of presenting the financial information. It is also possible to standardise laws and technical terms which will enable understanding and resolving disputes. In-co-terms is an example of such standardisation.