17. The Concept of Globalization
The ’90s were a defining decade for globalization, as technological advances and policy changes connected economies worldwide. The rapid expansion of the internet and telecommunications facilitated cross-border trade and communication, shrinking the global landscape. Organizations like the World Trade Organization and trade agreements such as NAFTA played crucial roles in removing barriers, fostering international collaboration. This era saw multinational corporations expand their reach, integrating supply chains across continents. Globalization not only transformed economic practices but also influenced cultural exchanges, setting the stage for an interconnected world that continues to evolve today.
