Globalization is process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology.
A country can receive a score of 1.0, 2.0, or 3.0, depending on how developed and globalized that country is.
The UAE is ranked in globalization as a 3.0. This means that the UAE is developing through individual and groups making connections, not because countries are colonizing or because businesses are connecting.
Originally, Dubai was dependent on fishing, and a declining pearl industry. Now the entire UAE is known for exporting oil, which helped it gain the economy it now has. Another factor that helped not just the UAE, but the world in general, was the development of the internet. It changed the way people communicated with one another. More specifically how individuals were able to network and connect on a global scale.
A country can receive a score of 1.0, 2.0, or 3.0, depending on how developed and globalized that country is.
- Globalization 1.0 was from 1492 or Columbus to the 1800s. This caused the world to change from large to medium because countries were globalizing. For example Spain to America and Britain to India. (Countries are doing the globalizing).
- Globalization 2.0 was from 1800s to 2000 and it brought the world from medium to small because companies were going global. For Example the East India Trading CO. (Companies are doing the globalizing).
- Globalization 3.0 changed the world from small to tiny. This change was caused by individuals going global. The internet was a large part of how individuals and communicate with one anther. (We as individuals are doing the globalizing).
The UAE is ranked in globalization as a 3.0. This means that the UAE is developing through individual and groups making connections, not because countries are colonizing or because businesses are connecting.
Originally, Dubai was dependent on fishing, and a declining pearl industry. Now the entire UAE is known for exporting oil, which helped it gain the economy it now has. Another factor that helped not just the UAE, but the world in general, was the development of the internet. It changed the way people communicated with one another. More specifically how individuals were able to network and connect on a global scale.
The building below is the Burj Khalifa in Dubai. It is currently the largest building in the world. The significance of this building is that is shows the development of this country and the advancements it is making in todays developing world.