Certainly this phenomenon was not completely new. In fact, much of what we have studied in this course could be understood as globalization. However, with the rapid decline of communism around much of the world in the1980s and 1990s, it became fashionable to argue that capitalism had won the Cold War, setting the stage for a new economic era.
Globalization means the spread of free-market capitalism to virtually every country in the world.
Yet, despite the rosy predictions that have accompanied this economic global integration, there have been many serious protests around the world against the forces of globalization. Your Assignment For this assignment you will write a statement on globalization that will be included in testimony heard by the World Trade Organization. Unfortunately, those who make decisions about global trade issues rarely have time to study the historical dimensions of these issues. You, on the other hand, have just swept across 500 years of global history. In your statement, you should make specific reference to historical events that will help to inform the debate on globalization.