There are several factors affecting globalisation, a few of which are discussed below in detail:
Emerging Technologies:
Digital transformation:
Emerging technologies such as artificial intelligence, blockchain, and the Internet of Things are driving the digital transformation of the global economy. This transformation is creating new opportunities for businesses to connect with customers and suppliers worldwide, leading to greater efficiency and productivity.
Automation:
Automation technologies such as robotics and machine learning are expected to revolutionize industries such as manufacturing and logistics, leading to increased efficiency and lower costs. This could lead to changes in the geography of production and trade as companies seek to take advantage of lower costs and increased efficiency.
E-commerce:
The growth of e-commerce platforms facilitates the global flow of goods and services, allowing businesses to reach new markets and customers worldwide. E-commerce also drives innovation in logistics and payment systems, further facilitating cross-border trade.
Virtual collaboration:
Emerging technologies such as virtual and augmented reality enable remote collaboration across borders, allowing businesses to work together on projects without needing physical travel. This could lead to increased efficiency, lower business costs, and reduced environmental impact.
Cybersecurity:
As the global economy becomes increasingly digital, cybersecurity will become an increasingly important issue for businesses and governments. Emerging technologies such as blockchain are being developed to provide secure and decentralized systems for storing and transmitting data, which could help to reduce the risk of cyber attacks.
Economic Shift
Changing centers for economic power:
New economic powers like China, India, and Brazil may emerge as a result of shifting economic centers of power. This may cause the balance of power to shift away from established economic superpowers like the United States and Europe. As a result, these developing nations might have a bigger say in determining international trade and investment terms and conditions, resulting in a more multipolar global economy.
Changes in Trade Pattern:
Tarde patterns may vary as a result of economic developments when nations and regions concentrate on brand-new markets and sectors. For instance, while the advent of digital technology has opened up new possibilities for international trade in data and intellectual property, the expanding middle class in emerging nations has generated the new potential for exports of consumer products and services.
A Shift in Investment Patterns:
Economic changes can impact foreign investment trends as business looks for new market resources. For instance, a rise in foreign investment has resulted from corporations looking to capitalize on the expanding consumer markets and the region’s plentiful natural resources in emerging economies. Political Factors
Political Polarization
There has been increased political polarisation and support for populist and nationalist movements in numerous nations. As a result, policies that support protectionism, limit immigration, and challenge international institutions and norms may be implemented, thus reducing the prospects for further globalisation.
Trade Disputes
Trade conflicts between big economic powers, like the US and China, can splinter global supply networks and make the world economy more regionalized and fragmented. The ongoing trade conflict between the US and China has already had a considerable influence on international trade flows and may continue to have an impact on globalisation in the future.

Palak Goyal (2220736)
Abhishek Kumar (2220703)
Abhinav Bhadoriya (2220774)