Information technology, Environment & Economic Development - 550 Words

Information technology, Environment and Economic Development (Essay Sample) Content: GlobalizationNameUnitInstructorDate of SubmissionAbstractGlobalization, a driven process by different forms such as international trade and investment relieved by information technology, is well defined as a process of integration and interaction among people, companies and governments belonging to different nations.Nevertheless, the initiated process has effects on the culture, environment, and well-being of humans as well as economic development in world-wide societies.Keywords : International trade, Information technology, Environment and Economic development.IntroductionGlobalization not being a strange thing and for decades, trading in lands at far distances such as selling of passion fruits from countries like Kenya or Uganda exported to Belgium has been a success through use Information technology and this has enhanced economic development between the countries, therefore, drawing back to 1950s, the volume of world trade has increased by almost 20 folds and fro m 1994 to 1999 increase form $465 billion to $827 billion foreign investment was almost doubled.DiscussionTechnology advances has further transformed economic life giving diverse tools for business investors as well as consumers a chance to be informed faster and be always informed of the economic trends taking place worldwide and also having collaboration with far-off business partners.The member countries of UNFCCC in conjunction with Kyoto Protocol have agreed in setting emission caps - a device that ceils the emission released into the atmosphere by any country within any particular time frame.Talking of trade, opportunities in the Least Developed Countries tend to be improved by agricultural products being exported duty free by The LDCs to foreign markets within tariff quota limits, which is set to be increased annually by almost 15%.ConclusionGlobalization has increased the state of some of the LDCs by the force set in within the tariff quota system of the applied trade prefer ences. More of the climate problems have been efficiently controlled enabling more diverse investments to be put in place having in mind proper control measures are in.