On a global scale, many people believe that the earth is decreasing at an alarming rate. There has been an increase in global connectivity as a result of the advancement of technology. Because of the current trend toward globalization, large corporations can function considerably more efficiently and reach a wider market. While the benefits of this time-space divergence are obvious, it is not without its drawbacks. Technology-driven globalization, according to many, is not a really “global” process; the discrepancy it creates is plain to see.
Due to their limited resources, small enterprises often find themselves unable to compete with larger monopolizing companies, leading to their extinction. However, despite the efforts of organizations such as banks and other financial institutions to help reduce some of the pressure on these small firms, this is not always enough. When it comes to extending their customer base and making themselves more marketable, the larger firms have the upper hand. Even if large global firms may use technology to their advantage and leverage on the degree of interconnection that is accessible at the moment, smaller businesses find themselves in a disadvantage and find it difficult to compete.
As a result, many countries are unable to establish technical systems that will allow for globalization. This sort of interdependence among rich nations is just not possible for these underdeveloped countries, who often struggle to feed their own populations. Many say that globalization is not a universal notion because of this unpleasant circumstance, which widens the gap between affluent and poor countries.