The globalization shape and face
The globalization shape and face are driven by several factors; Political, economic, social, and technological. Political factors entail government policies intended to facilitate trade and commerce. These policies are effective in channelizing the flow of investment and capital. Economic factors mainly include lower trade and investment barriers. The integration of financial markets has increased the mutual dependencies of the economies through financial liberalization and deregulation. Technological factors have influenced globalization in various ways. It has enabled companies to globalize their products due to the use of the internet and the advancement of containerized ships and air freights. Social factors bring cultural union, that is, increasing similarity throughout the world. Through a significant reduction in transport and communication costs, it is advantageous to society by using standard labels and services worldwide, thus increasing homogeneity across the globe. As a result, the process of globalization leads to the transformation of people’s lives through social, economic, legal, and administrative changes. Public sector companies are now under worldwide weights to enhance their productivity by improving efficiency. The results of free-market reforms on government and national companies are new ways of governing the public effectively.