What is the basic timeline of globalization?

What is the basic timeline of globalization?

Thomas L. Friedman divides the history of globalization into three periods: Globalization 1.0 (1492–1800), Globalization 2.0 (1800–2000) and Globalization 3.0 (2000–present).

What are the stages of globalization?

Four phases of globalisation

  • Phase 1: Humanising the globe (300,000 BCE–10,000 BCE)
  • Phase 2: Localising the global economy (10,000 BCE–1820 CE)
  • Phase 3: Globalising local economies (1820–1990)
  • Phase 4: Globalising factories (1990–present)

What is the 2nd globalization?

The second wave of globalization, usually dated from 1985 to the Present, is characterized by an increase of the goods and services ratio to World GDP of 9 pp, integration of capital markets with an expansion of 23 pp in FDI over GDP, more intense communication and information relationships with significant transfers …

What is globalization 2.0 Thomas Friedman?

During this period, according to Friedman, “the main agent of globalization was the nation-state globalizing for Empire, or for resources, or for power.” The second phase of globalization was what he labeled “globalization 2.0,” which began in the 1900s and ended around the turn of the twenty-first century.

What are the 5 stages of Globalisation?

Stages in Globalization/Stages of Globalization

  • Domestic Company.
  • International Company.
  • Multinational Company.
  • Global.
  • Transactional Company.

What are the 2 waves of globalization?

This paper looks at the two waves of globalisation (roughly 1820-1914 and 1960-present) focusing on key economic facts (trade investment, migration, and capital flows, Industrialisation/de-industrialisation convergence/divergence) beliefs and policymaking environments.

What caused the second wave of globalization?

The Second Wave. International regulations and organisations to support economic integration at the global level were created after World War II. Cooperation was based on the Bretton Woods Agreement of 1944.

Why does Friedman say the world is flat?

Friedman believes the world is flat in the sense that the competitive playing field between industrial and emerging market countries is leveling; and that individual entrepreneurs as well as companies, both large and small, are becoming part of a large, complex, global supply chain extending across oceans, with …

What is globalization 3.0 Friedman?

Friedman has segmented globalization into generations and he refers to the current economic environment as “Globalization 3.0,” a period that started at the dawn of the current millennium just after Y2K.

What is globalisation 2?

The old western-dominated Globalisation 1.0, which assumed the universality of one global culture, has passed. Today, Globalisation 2.0 means the interdependence of several identities or cultures characterised by new forms of non-western modernity. This new era, while long in the making, was hastened by the 2008 global financial crash.

What happened to globalization?

Globalization 1.0—the surge in global trade and international capital flows that occurred in the late nineteenth and early twentieth centuries—met its demise between World War I and the Great Depression.

Are We in the new age of globalisation?

And now we find ourselves in the second half of the second decade of the 21st century at the advent of a new age: “Globalisation 2.0.” The old western-dominated Globalisation 1.0, which assumed the universality of one global culture, has passed.

Is globalization displacing workers?

Globalization 2.0 is displacing workers. Globalization 2.0, as Roach calls it, is moving much faster than the original. Some of this is due to technology, but trade agreements like NAFTA are important, too. Nations removed barriers to speed up trade and economic growth.