Ojima Hassan-Haruna 
16/sms01/013
Eco410


Question 1a:
Globalization is an elimination of barriers to trade, communication, and cultural exchange. The theory behind globalization is that worldwide openness will promote the inherent wealth of all nations. While most Americans only began paying attention to globalization with the North American Free Trade Agreement (NAFTA) debates in 1993. In reality, the U.S. has been a leader in globalization since before World War II.

The drivers of globalization include:
Transportation and communication 
Computer data flow 
International focus on United Nations 
Satellite communication 
Troop movement 
Electronic transfer 
Migration 


Question 1b:
The primary drivers of globalization are rapid advancements in technology, culture, economics and politics. With each passing year, the speed at which transactions take place and the spreading influence of cultural forces serve to integrate international societies. The most prominent driver of this trend is the advancement of technology.
On a large time scale, the world has been on a gradual, but accelerating, track of globalization for the last thousand years. Advancements in transportation technology enabled intercontinental trade, and this led to the exchange of goods, ideas and cultural influences over large portions of the planet. By the 17th century, explorers and merchants were capable of circumnavigating the globe; this was the first time the world became a single, contained system of politics and economics.
In more recent times, the advancement of technology has accelerated the trend of globalization. For instance, telecommunications technology allows for instantaneous exchange of information around the world in the form of telephone calls, emails and video conferences. Digital technology allows for distribution of information content around the world, so European music or American films can reach remote villages in Asia and Africa within minutes. This advancing technology allows for commercial opportunities on broader market scales as well as exchanges of cultural elements to an unprecedented degree. As a result, children growing up anywhere in the world can experience the same culture and pursue the same economic opportunities as they mature. Political forces around the world are also serving to open up trade between nations and facilitate cooperative development of commercial opportunities.

Question 2:
Globalization intensifies economic integration; the transfer of policies across borders; the transmission of knowledge; cultural stability; the reproduction, relations, discourse of power; a global process, a concept; a revolution and establishment of the global market free from sociopolitical control. 
Two major distinct global trends that have impacted the role of globalization in Nigeria, are the rapid growth of information technology and the increased global trade integration. 
The federal government may have set the tone  with many commendable IT initiatives, the enactment of the National Information Technology Development act 2007. Before then the IT terrain had been foggy, the most impact of IT was recorded in the banking sector. Nigerians may not have forgotten the era of “tally numbers” and long queues in banks. Today banking transactions can be done in the comfort or your rooms and offices. Today Nigerians Ian international debit cards and don’t have to carry cash overseas. The impact of IT in the financial sector, therefore, has been phenomenal and undeniable.