Digital Globalization and Pakistan

Digital Revolution: Pakistan (A step towards digital globalization)

Digital globalization is a process that provides a platform for entering a new era characterized for distribution of the information to cross the border via the development of technology. These platforms are converting the information through the proliferation of technology in deeper and richer networks (Ungerer, 2017). Today or digital globalization is driven by the flow of information much more suitable ways with reference to traditional geographic globalization.  From the perspective of Pakistan, two-thirds of our population is 24 years old or under and digital globalization is very important for country young population and Pakistan has opportunity can significantly contribute to progress and enlargement of digital globalization (Work Bank, 2020).

Adopting the digital environment is very crucial for youth to become a part of the globalized world that has changed the ways of the labor market and earn through the international level.  Pakistan has approximately 4 million youth working in the international market and taking the advantages of global connectivity and this concept leads Pakistan as a digital economy. Creative, empowered and connected Pakistani youth developing innovative solutions for local problems thus present endless possibilities for tackling development challenges in Pakistan (Work Bank, 2020). The entire world map is altered on a much faster rate due to participation of digital infrastructure, Internet of Things (IoT), Information & Communication Technologies (ICT’s), Artificial intelligence (AI), Blockchain (BT), and application of big data. The technologies have improved the living style and boost the economy by digital means.   

            Pakistan, which is emerging from many years of the war on terror, is now on a decent path to progress, with economic growth of 5.8% and improved investor confidence. At the World Economic Forum in 2017, Ebay’s chief executive, Devin Wenig, highlighted Pakistan as one of the fastest growing e-commerce markets in the world. In 2018, Alibaba bought Pakistan’s largest e-commerce platform, Daraz.pk. Growth is being accelerated by other major investments in power and connectivity infrastructure, technology and digital infrastructure. Ant Financial Services, China’s biggest online payment service provider, recently bought a 45% stake in Telenor Microfinance Bank, in a deal that valued the Pakistani bank at $410 million (Ayla, 2018).

The digital globalization depends upon the following factors,

1-       Information & Communication Technologies (ICT’s)

2-      Connectivity and Networks

3-      Transfer of Capital, Knowledge, and Professionalism

The detail of these factors will be discussed  below,

1-      Information & Communication Technologies (ICT’s)

ICTs are the very important part of digital globalization, this tool handles the information, dissemination of information, process and distribution of information, and application methods to be used for production. ICT is also included the old communication or traditional/legacy sources of information such as Radio, Television, and Telephone and the latest ICT network based on computer and wireless technologies, internet, and satellite. These tools are very famous for interconnected the world and create a digital globalization environment. Pakistan is also participating in development of these information and technologies infrastructure and trying to turning into the global economy. China Pakistan Economic Corridor (CPEC) is developing the atmosphere for investment which improves connectivity between digital advancement and infrastructure.   

Nowadays, the information becomes the most exciting strength for production in the new economy and ICT’s began the new digital means for flow the information. The digital opportunity initiative for Pakistan is highly improvised the digital economy and development to connect the world with is the use of information communication technologies (ICT’s) as well as minimum cost.  Moreover, ICT’s can enhance national development strategies to be achievable and realistic. The ICT widely discusses in two ways, first is ICT as a Production Sector and secondly ICT as an enabler. ICT as a production sector involves the strengthening of information communication industries i.e. telecommunication, computer software, and hardware. ICT as enabler used for socio-economic development for improving the nation's strategy objectives.  ICT Strategies topology figure us under,

 

2-      Connectivity and Networks

Networking and global connectivity play a vital role to develop the linkage between people as well a local firm to international firms in prospective geographical distance. International connectivity is crucially important to enhance communication around the globe and develop the concept of human civilization via digital technologies. The latest information and communication technologies backbone of digital globalization and the ease of connectivity with cost-cutting approaches help the people to increase their social, economic, and political capabilities. On the other hand, these technologies also some threat to people life such as privacy, socio-economics and tech-addition. Based on the above cited issue or threat digital technologies are making sure the privacy with the latest legislation. In Pakistan, we are a developing country therefore it is very difficult to invest a lot of money into these issues, but Pakistan is trying to develop the digital infrastructure to adopt the digital globalization environment.       

3-      Transfer of Capital, Knowledge and Professionalism

There is another very important factor while considering digital globalization, the strength of networking is highly dependent on capital (investment), the flow of knowledge, and professional expertise across the globe which boosts the connection and communication performance for involving people psychically more interdependently and interactive. Moreover, the efficiency and performance of digital globalization highly depend on worldwide homogenization of norms and tastes. The Pakistan people are not too much tech orientation and the adoption of the latest technology is slow. However, due to ease in the digital economy Pakistan is also developed a secure and effective IT platform to facilitate the nation for adoption the digital globalization. The adoption of fashion, culture, knowledge, communication, and capital are important elements to move outside the board.  

Conclusion:

In the context of Pakistan, the benefits of globalization will take place primarily advantages to boost the global business environment and enhance communication around the globe. Pakistan's government is trying to implement these reforms into numerous sectors such as health, education, telecommunication, e-business, and e-government.   

References

Ayla, M. (2018). Pakistan’s digital revolution is happening faster than you think. World Economic Forum, 1–5. https://www.weforum.org/agenda/2018/11/pakistan-s-digital-revolution-is-happening-faster-than-you-think/

Mujahid, Y. H. (2001). Digital opportunity initiative for Pakistan. Pakistan Development Review, 40(4 PART II), 911–928. https://doi.org/10.30541/v40i4iipp.911-928

Ungerer, R. L. S. (2017). Digital Globalization. October, 1–2. https://doi.org/10.12957/jbrastele.2013.6415

Work Bank. (2020). Pakistani Youth See Opportunity in a Globalized Economy. Report, 19, 5–8.