Final answer:
Rapid innovation in communication and transportation technologies has significantly influenced globalization by reducing costs and simplifying long-distance economic activities. These advancements have allowed for the widespread dissemination of information and ideas, which contributes to global interconnectedness. Additionally, technological diffusion has brought about economic growth and poverty reduction in various regions.
Step-by-step explanation:
Rapid Innovation in Communication and Transportation Technologies
The rapid innovation of communication and transportation technologies has played a crucial role in the phenomenon known as globalization. These innovations have significantly reduced the costs of transportation and have simplified the complexities involved in long-distance interactions. Such advancements include the evolution of container shipping, air cargo, and especially the technological progress in computing and telecommunications.
Communication technologies like the internet, mobile phones, and social networks have facilitated the spread of information and ideas across the globe. This spread has occurred even in the face of attempts to censor information by certain nations, thereby increasingly challenging the ability to firewall societies from the global media culture.
Moreover, globalization is further enhanced by technological diffusion, which allows peripheral and semi-peripheral nations to benefit from new technologies, giving rise to improvements in areas such as mobile banking and market information sharing. The ability to send products and services that are in the form of information, such as computer software or financial advice, through digital networks has similarly reduced costs and revolutionized global economic connectivity.
Finally, globalization is supported by international agreements and treaties that promote increased trade collaborations. The correlation between technological advancement, economic growth rates, and the amelioration of poverty levels has been fortified by technological globalization which thrives on the continuous spread of technology.