The Role of Globalization in the Spread of Technology and Innovation across Global Markets: The Case of China

Abstract

Purpose: Globalization is a continuously unfolding process characterized by economic integration, cultural exchange, policy transfer across borders, and the dissemination of technological advancements in a contemporary digital age. Methodology: This research paper provides a comprehensive analysis of the globalization process, including its limitations based on existing literature in the academic continuum. Further, given China is a technological powerhouse in the global arena, the research paper also examines the role of globalization in the spread of technology and innovation across the country. Findings: Upon in-depth analysis of academic material, the research paper found that the globalization process arrived in waves over the years, with each wave creating economic and cultural patterns that define emerging waves including contemporary technological globalization. Technological globalization has played a crucial role in upgrading employment and wages for skilled and unskilled laborers in developing nations, disseminating technological knowledge and expertise, fostering competition between local companies and international corporations, and allowing for sustainable developments through green technological innovations from developed economies. Unique Contribution to Theory, Practice and Policy: Studies show that China plays a crucial role in the world of technology owing to technology. Furthermore, considering that technological globalization functions as a top-down structure, China has been able to skillfully use advanced technological knowledge and expertise from developed economies to boost its economy, increase its global political agenda, and steer forward environmentally friendly or rather sustainable development.