Are we witnessing end of globalisation? What's at stake for Sri Lanka?

Globalisation can be understood as relations between countries, and it fosters a greater relationship between countries that involve the movement of goods, services, information, technology, money, and human beings between countries.

- AMARASIRI DE SILVA

These relationships transcend economic, cultural, political, and social contexts.

Globalisation in the modern world today is a significant shift from the past. Globalisation in the modern world today is a state in which the world becomes interconnected and interdependent. This change occurs due to better technology, transport, communication, and foreign trade.

Trade routes have joined areas for centuries. The Silk Road and colonial sea trade routes are the best examples. But today, nobody can match the speed and scope of globalization.

Globalisation began to modernise after World War II. During this time, countries came to understand that they had to work together. They wanted to have economic cooperation and peace so that they would not fight any more. These significant institutions united countries for political and economic purposes and advantages. They allow free movement of products, services, and capital between countries. It encourages cooperation all over the world.

The second half of the 20th century saw fabulous technological advances. These advances sped up globalisation. The internet changed everything. It changed the way people communicate, share information, and do business. Traveling became faster and more efficient. Products and humans travel from one continent to another in record time. Companies can now do business globally. They outsource jobs, get access to global markets, and use global supply chains. This was the dawn of multinational firms and a global economy.