QUESTION 1

Key events in the history of globalization from 1870 to present

1870- 1914: Early stages of globalization
 1870 was the first wave of globalization and the period from 1870 to the beginning of the
first world war is known as the Golden age of globalization.
 It was characterized by migration global trade investment and global capital flow.
 In 1871 there was the creation of telegraphs which revolutionized communication that
facilitated faster international correspondence.
 In 1880s there was the adoption of the gold standard which created a more stable
international financial system.
 In 1870s also, they switched from sails to steamships and the opening of the Suez Canal
reduced the cost of transportation of goods
 There was also invention of refrigerators and cargo ships which allowed countries like
Argentina and Uruguay to mass export meat.
 In 1914 the outbreak of World war ended the first wave of globalization due to
disruptions in trade migration and finance.
1914-1945: World wars and interwar period
a) 1914-1918: outbreak of World War I
The outbreak of World War I ended the first wave of globalization. The war disrupted trade,
destroyed construction and caused millions of deaths.
b) 1920 -1930: economic instability
The period between the wars was marked by economic instability and political turbulence. These
included high inflation in 1920s. Many nations imposed trade barriers and tariffs, reversing
earlier trends of openness due to global economic depression that led to wide protectionism.
c) 1939-1945: World War II
The war further disrupted global trade and reshaped international order. By the end of World
War II trade as a percentage of world GDP had fallen to 5%a level not seen in more than a
hundred years.
1945-1970: Post war reconstruction and the rise of Multilateralism
 In 1944 the Bretton Woods Conference was created by allied countries to establish orders
as it created international financial institutions such as IMF and world bank to promote
global economic stability and recovery after World War II.
 The United States also ended dollar gold convertibility in early 1970sand many countries
switched to floating exchange rates.
 In 1948 The General Agreement on Tariffs and Trade was created to reduce tariffs and
other trade barriers setting the stage for global trade regime designed to stimulate
economic growth and integration.
  In 1950s -1960s international transportation such as container shipping and air travel
became more efficient hence lowering the costs of global trade.
 In 1960s Asian and African countries were decolonized and this led to new markets being
in cooperated into the global economy.
1970s-1980s Key events
 In 1970 the US president Nixon Shock announced the suspension of the Us dollar
convertibility into Gold this lead to volatility in global finance markets
 In 1973 there was the OPEC oil crisis which disrupted global energy markets.
 In 1980s there was rise in Neoliberal economic policies which were promoted by Ronald
Reagan (USA) and Margaret Thatcher (UK). This Neoliberal economic policies promotes
privatization, market deregulation and increased foreign trade.
 In 1990s The Soviet Union collapsed which marked the end of Cold war period and this
led to expansion of global capitalism and spread of Democracy
 In 1993 the European Union (EU) was formed by Maastricht Treaty, which furthered
economic and political integration.
 In 1994 the North America Free Trade Agreement was signed creating a trilateral trade
bloc between Canada, USA, and Mexico.
 In 1950 the World Trade Organization (WTO) was established and it replaced General
Agreement on Tariffs and Trade (GATT) and it oversees global trade negotiations.
 In 1997 there was the Asian financial Crisis which highlighted the vulnerability of global
markets but it also accelerates economic integration in Asia.
 In 1999 the Euro was introduced as a common currency in European countries and this
marked a significant step in economic integration.
2000-2024 key events
 In 2001 China joined WTO which marked its deeper integration into global economy
contributing to its rise as a major economic power.
 In 2008 there was collapse of global financial markets, centered in the US housing
markets, leads to a world-wide recession and calls for new financial regulations.
 The 2010s saw the rise of digital economy as individuals were able to enter the global
economy thanks to widespread use of smartphones and enhanced connectivity.
 In 2020-2021 there was the outbreak of COVID -19 pandemic which disrupted supply
chains, trade and international travel. This led to shortages and increased cost of services
and inputs. It also accelerated the adoption of digital technology and remote work.
 In 2022-present the Russia war on Ukraine has disrupted supply chains which led to
shortages and increased costs of services.
 2023-present there is an increase focus on climate change which leads to international
agreements on sustainable development and green energy technologies. This shows how
there is connection between nature of environmental issues and global cooperation.

QUESTION 2
Examining the Three Phases of Globalization
Every stage of the evolution of globalization—the growing interdependence of the economics,
cultures, and civilizations of the world—has had an impact on the state of the world today.
a) The Initial Stage: 1870–1914
The telegraph and steam engine, among other technological innovations, propelled the first wave
of globalization at this time. As transportation costs dropped and it became easier to move people
and products across continents, trade grew quickly. As financial systems evolved, international
capital movements became possible. However, imperialism also played a role during this time as
strong nations looked to increase their market and resource dominance.

b) Secondly, the 1940s- 1970s

The second stage of globalization was brought about by World War II and its aftermath. By
creating a new global monetary system, the Breton Woods Agreement facilitated trade and
encouraged economic stability. Cooperation and interdependence between countries were further
promoted by the establishment of international organizations such as the World Bank and the
Union Nations. Economic progress and expansion accelerated throughout this time, especially in
Western Europe and Japan.

c) Phase Three: Mid-1970s to Present

Rapid technological breakthroughs, especially in information and communication technology,
have characterized the third and most recent phase of globalization. Digital technologies and the
internet have completely changed how individuals acquire information, communicate and do
business. As a result, trade, investment and finance have become more globally integrated. The
growth of global firms and global supply chains have increased economic integration on a global
scale.
Ways in which Modern Globalization was Shaped by Each Phase.
The connected world we live in today is as a result of the contributions of every stage of
globalization. While the second phase created the institutional structure for international
collaboration, the first phase laid the groundwork for international trade and finance.
Globalization has accelerated in the third phase as it has become more intricate and extensive
than in the previous eras.
Due to the fact that products and services are produced and consumed internationally, the global
economy bears the scars of these periods. It is also evident that there is cultural exchange that
occurs across countries as people from different cultures come together and exchange ideas.
However, globalization has also brought about challenges. Some of these drawbacks include
social instability or social unrest, environmental degradation and wealth disparities.
It is important to address the challenges that globalization poses to the modern interconnected
world as we look at its complexities and see to it that the benefits of globalization are shared
equitably.

QUESTION 3
The advantages and dangers of globalization are reflected in the hitherto unheard-of difficulties
facing global security. The interdependence of economies, growing interconnection, and rapid
technology breakthroughs have changed the dynamics of security by posing both new challenges
that call for international cooperation and new opportunities for cooperation. New Dangers and
International Difficulties: Threats including cyberwarfare, terrorism, climate change, and the
international flow of information have replaced traditional security issues like state-on-state
confrontations. Nowadays, non-state actors and cybercriminals may operate across borders with
relative ease, making it more difficult for individual countries to independently protect their
interests.
Election meddling and ransomware attacks on vital infrastructure are two examples of how
cyberthreats cut across national borders. In a similar vein, climate change is becoming more
widely acknowledged as a "threat multiplier" that intensifies other hazards such as resource
scarcity, forced migration, and disputes over water and arable land. Since no one state can handle
these challenges on its own, international cooperation is necessary. The Impact of Globalization
on Security Reactions: Globalization, on the one hand, makes it easier to respond to these
problems in a coordinated manner. Information exchange, cooperative training, and the
development of worldwide standards are made possible by global governance organizations like
the United Nations (UN), NATO, and INTERPOL. To tackle global security concerns, for
example, states cooperate on counterterrorism, intelligence sharing, and peacekeeping missions
through the UN and regional alliances.
International pacts, such as the Paris Climate Agreement, aim to bring nations together to tackle
common issues. These partnerships are further strengthened by technological developments in
communication and data-sharing platforms, which enable nations to quickly respond to threats
by pooling their resources and knowledge.

Globalization's Complications on International Responses:

On the other hand, globalization makes reactions more difficult. States are susceptible to
disruptions from global shocks like pandemics, economic crises, and terrorism because of the
same interconnection that promotes collaboration. The COVID-19 pandemic demonstrated how
global supply chains and the movement of people and things around the world might contribute
to the spread of crises and have a significant influence on national security.
Furthermore, problems over influence, commerce, and cybersecurity have arisen as a result of
globalization's heightened struggle for resources and technology, especially between
superpowers like the US and China.
Because nations value their sovereignty, national interests frequently conflict with international
cooperation, which can impede or postpone collective action.
In conclusion, globalization has changed the dynamics of global security, bringing with it both
new possibilities for cooperation and new challenges. To effectively confront these complex,
transnational security concerns, the international community must strike a balance between
national interests and the necessity of coordinated action. Mutual trust and efficient global
governance are still essential for addressing the changing problems of a globalized world.