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Silk Roads (1st Century BC- 5th Century AD, 13th- 14th Centuries AD). 

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Silk Roads (1st Century BC- 5th Century AD, 13th- 14th Centuries AD). 

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After being transported hundreds of kilometers over the Silk Road, luxury goods from China began to appear in Rome for the first time in history. Trade had ceased to be a regional activity and had begun to become global. Because two large empires dominated much of the Silk Road, it was able to thrive. The development of a new hegemonic empire, the Mongols, caused it to reopen in Marco Polo's late medieval time.

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During the Middle Ages, spices were the mainstay of Islamic trade. Spices, unlike silk, have historically been traded mostly by water. By the Middle Ages, however, they had established themselves as a true global trading center.

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First Multinational Corporations (1600 and 1602)

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First Multinational Corporations (1600 and 1602)

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These companies are from the British and the Dutch East India. The powerful Dutch East India Company, which imported porcelain, spices, and exotica to Europe, was the first economic body to unite East and West; in fact, it was the first international firm.

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Age of Discovery (15th- Early 18th Century) 

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Age of Discovery (15th- Early 18th Century) 

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European explorers connected East and West throughout this time period, from the end of the 15th century forward, and unintentionally discovered the Americas. The Portuguese, Spanish, and subsequently the Dutch and English, aided by discoveries made during the so-called "Scientific Revolution" in the fields of astronomy, mechanics, physics, and shipping, first "found," then subdued, and finally integrated new lands into their economies. Trade became increasingly worldwide, and it was even the catalyst for the commencement of the Age of Discovery. However, the global economy that resulted was still highly compartmentalized and imbalanced. The European empires established global supply systems, but primarily with colonies.

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Boats and boating--Equipment and supplies

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Following the Napoleonic wars, the industrial revolution spread to Continental Europe and North America, too.

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First Wave of Globalization (19th Century-1914)  

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First Wave of Globalization (19th Century-1914)  

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Globalization’s first wave, which lasted from 1870 to 1914, is viewed today as the embodiment of the liberal open economic paradigm. This period saw the spread of international trade, built on the exchange of Western manufactures for developing economies’ primary commodities along low-tariff corridors.

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Trade equaled to 16–17% of world income, thanks to the transport revolution: steamships and railroads reduced transaction costs and bolstered both internal and international exchange (Held et al., 1999).

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The Great Depression struck the entire planet simultaneously. The drop in stock prices that resulted from the stock market crisis dragged the economy down, and future adjustments to banks were implemented.

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 Creation of World Bank and International Monetary Fund (1944)

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 Creation of World Bank and International Monetary Fund (1944)

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Created at the Bretton Woods Conference in 1944 to promote international monetary cooperation, stabilize currency exchange rates, and increase global liquidity (access to hard currencies).

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The new mass media, such as film, radio, and television, as well as recorded music, were used to export western culture over the world. International transportation and telecommunications development and growth played a critical part in modern globalization. Cultural Globalization started to rise.

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OCT 24, 1945. The formation of the United Nations in 1945 demonstrated the interconnections and interdependence of the world's economies. It facilitated the advancement of institutions.

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The ratio of the richest regions GDP per capita to 15 and peaked at 18 at the turn of the new millennium.

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Mobutu Sese Seko, President of Zaire (now the Democratic Republic of the Congo) who seized power in a 1965 coup and ruled for some 32 years (he embezzled international development funds- the IMF)

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Organizations attempting to compete globally in the 1970s and 1980s were handicapped by a lack of agility that resulted from bloated management structures. To increase their flexibility and creativity, many large companies developed a new strategy of focusing on their core business, which required identifying critical processes and deciding which could be outsourced.

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As Eastern Europe's Cold War thawed, East Berlin's Communist Party spokesman proclaimed a shift in East Berlin's relations with the West. From midnight that day, he continued, GDR people could freely cross borders. East and West Berliners flocked to the wall, yelling “Tor auf!” They flooded the checkpoints around midnight.

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Creation of the World Wide Web (Jan. 18, 1991)

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Creation of the World Wide Web (Jan. 18, 1991)

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When the World Wide Web was first established in 1991, it enabled humans all over the world to communicate with one another by the internet. To keep information moving and communication between people going, it was employed as a connection.

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Creation of World Trade Organization (Jan. 1, 1995) 

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Creation of World Trade Organization (Jan. 1, 1995) 

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The WTO was created on January 1, 1995, as part of the Uruguay Round of multilateral trade negotiations. The Uruguay Round was the final of a series of periodic trade discussions sponsored by the WTO's predecessor, the GATT (GATT).

The WTO is the most important global trade body. The member countries decide. The WTO has 151 members and 31 observer states (most of whom have applied for membership).

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Cyberspace is the next frontier of globalization in a world increasingly dominated by two global powers: the United States and China. The digital economy, which was in its early stages during the third wave of globalization, is now a force to be reckoned with thanks to e-commerce, digital services, and 3D printing.

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Effect of the Pandemic to Economic Globalization (December 2019) 

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Effect of the Pandemic to Economic Globalization (December 2019) 

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COVID-19 pandemic has spread with alarming speed, infecting millions and bringing economic activity to a near-standstill as countries imposed tight restrictions on movement to halt the spread of the virus. As the health and human toll grows, the economic damage is already evident and represents the largest economic shock the world has experienced in decades.

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100th anniversary of the Chinese Communist Party (July 23, 2021) 

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100th anniversary of the Chinese Communist Party (July 23, 2021) 

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The Chinese Communist Party (CCP) will celebrate the 100th anniversary of its founding in 1921 and use this as an opportunity to publicize its successes.

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LINK TO PROS AND CONS OF ECONOMIC GLOBALIZATION AND ANSWERS TO GUIDED QUESTIONS 

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LINK TO PROS AND CONS OF ECONOMIC GLOBALIZATION AND ANSWERS TO GUIDED QUESTIONS 

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Please see attached link for the more information about Economic Globalization.

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ECONOMIC GLOBALIZATION - Presentation (16:9) by Gwen Villanueva