Module 8
2. What factors contributed to economic globalization in the second half of the twentieth century? Some factors were that capitalist victors from WWII were determined to avoid any return to such Depression-era conditions. The World Bank and the International Monetary Fund laid the foundation for postwar globalization."Bretton Woods system" negotiated the rules for commercial and financial dealings among the major capitalist countries, while promoting relatively free trade, stable currency values linked to the US dollar, and high levels of capital investment.And technology contributed to the acceleration of economic globalization with containerized shipping, huge oil tankers, and air express services dramatically lowered transportation costs, and fiber-optic cables and the Internet provided the communication infrastructure for global economic interaction. The population growth in developing countries and neoliberalism favored free global movement of capital. Major capi...