Chapter 23 Module 8
2. What factors contributed to economic globalization in the second half of the twentieth century? There were many factors that contributed to economic globalization in the second half of the twentieth century. During the beginning of the twentieth century, World War 1 and the Great Depression wreaked havoc on the world economy (Strayer 1138). In 1944 a conference in Bretton Woods New Hampshire there was an agreement between the World Bank and the International Monetary Fund laying the foundation for postwar-globalization. The Bretton Wood System negotiated rules for commercial and financial dealings among the powerful capitalist countries in the world. Technology started rising becoming a factor in economic globalization. Technology made trades faster for countries to receive goods as well as communicating with other countries faster instead of taking a while for a message to get delivered. “ Containerized shipping, huge oil tankers, and air express services dramatic...