Globalisation: dawn of a new world economic order

Abstract

Globalisation, in recent years, has increases in scope, pace and intensity, propelled by the rapid advancements in technology. The information and communications technology (ICT) revolution, in particular, has connected nations and linked people, reducing distances and enabling the transmission of real time information. This, in turn, has led to increased interdependence and interconnectedness between nations, especially in trade, economic and finance.