The world is advancing and make human life more efficient day by day with the transportation inventions from the 1st Industrial Revolution that connecting the world for exchanging of goods, spices and knowledge. And now during the 4th Industrial Revolution, we are connected instantaneously to everywhere around the world, as the world is on the internet right now where we can do deals virtually.
These are benefits with the modern day's virtual cloud infrastructure such as; buying goods from different parts of the world and get them delivered to our front door, and doing digital gig works for clients in the other part of the world and get the payments directly to our bank account digitally.
Furthermore, the goods and raw materials have been at a reasonable price today compared to decades ago as many countries can offering their resources to capture the market share as much as possible that lead to a competitive price that benefits the buyers. However, skilled labours rates are still unchanged with several barriers and one of them is visa fees.
I was enlightened with the article 'What is the next phase of globalisation?', there are different levels of the economy between countries around the world and tie to their currency strength, which correspondingly links to the income levels of the citizen in the country. With the internet that enables for demands to connect with skills, as the growing companies in the developed countries can hire digital workers in developing countries at lower rates but can be a lot for the workers when converting to their countries currencies.
Besides, the developed countries that already have strong institutions that create an excess of high-skilled workers also can leverage their knowledge to the developing countries at reasonable offer rates according to their resides locations. Hence, this will make every company across the world can be a multinationals company.
This has come to my mind, will the advanced countries will always be outperforming the other developing countries? Will there be a balanced economy throughout the world as every country are supporting each other and sharing resources internationally between them? But I believe there are no countries that have everything, however, the currency exchanges are still a barrier for "fair" transactions and the value price can be perceived.
However, with the world are exploring blockchain technology these will be the small steps as solutions to overcome this above-mentioned barrier.
(Source: What is the next phase of globalisation?)
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