The Transformation of the International System due to the Rise of Networks and ICTs

2415 Words Feb 5th, 2018 10 Pages
This change became more prominent in the fourth quarter of twentieth century when the core activities of circulation, consumption and production of markets, information, technology, labor, capital and raw materials all started to be controlled globally. These activities are now organized directly or by means of network connection between business and economic agents.
This system of new economy is more commonly known as globalization and when we talk about it, the first thing that comes to mind is an instant exchange of information and trading by means of networks. Information and communication technology has played a major role in globalizing the world and transforming the international social and economic system.
Globalization has now created the business market networks in which the whole world participates to raise the economy and thus profitability. In fact, it is now not possible to think of globalization without understanding the concept of networks. In order to compete with the rest of the world, every nation or business has to grow their network.
As noted in World Summit on IT, Information and Communication technology is acting like a catalyst in making development to social and economic system of the world. ICT is expected and already raising production, creating…

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