Final answer:
The statement is TRUE. Over the last two decades, technology diffusion has increased, contributing to technological globalization and impacting both economic growth and global culture.
Step-by-step explanation:
The rate of technology diffusion has indeed been increasing over the last two decades, making the statement TRUE. This process is part of what is known as technological globalization, which involves the spread of technologies across international borders. The advancements in technology, especially in communications and information technology, have greatly impacted economic growth and social structures. Technologies such as mobile phones and banking have seen rapid adoption and improvement, leading to prevalent competition, dropping prices, and significant benefits even in rural areas where technology was previously considered low-tech.
In addition to the economic changes, global culture has been extensively influenced by communications technology through the spread of ideas and news, undermining power structures that attempt to limit access to information. Instances like the Arab Spring and the Egyptian Revolution of 2011 showcase how new technologies have been employed to bypass censorship and spread news globally.