Accelerating Global Interaction 1

Accelerating Global Interaction talked a lot about globalization and reglobalization in the world’s economy. People mostly refer to globalization as the economic transactions that took place in the second part of the 20th century. In the 1970’s, major capitalist countries such as U.S. and Great Britain started seeing the world as one big,open market. During reglobalization world trade skyrocketed as department stores and supermarkets started to stock their shelves with merchandise. London marketed 120 blends of tea in over 100 countries and Australian kiwi shoe polish sold in 180. U.S. and Britain started investing in foreign factories to maximize its profit. Globalization started our world’s economic boom.

The maps on page 729 are a great example of why some countries boomed economically and why others were left behind. U.S., China and India had an incredible population which led them to their economic success. China was populated with 1,290 million people which is the main reason for the large number of factories. China was U.S. main go to country for factory investments. Another map shows the economic development in the world. Even though China boomed with population, their per capita income was under $2000. With all the factories, there left room for a lot of cheap labor. Where in the U.S. the per capita income was over $20,000.