The article discusses the phases of globalization before and after World War I, highlighting technological advancements that enabled global trade and communication. It describes how, during the Edwardian era, a Londoner could enjoy diverse international products, fostering the belief in unstoppable, positive globalization. Fast forward to the late 20th century, globalization accelerated again post-communism, with significant migrations and economic interdependence. However, both epochs faced abrupt challenges and collapses, demonstrating globalization's complex and cyclic nature.
Before World War I, globalization flourished, with technology facilitating instantaneous connectivity, leading to an era of unprecedented economic interdependence and cultural exchanges.
Keynes envisioned a world where the convenience of global trade offered a false sense of security amidst underlying tensions of militarism and imperialism.
By the late 20th century, globalization experienced another surge, with the collapse of communism and China joining the global trading system, yet facing challenges.
Despite increasing interdependence, both historical and modern periods of globalization faced significant collapses, illustrating the cyclical nature of global relations.
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