1Capitalism and Culture The Acceleration of Globalization since 1945 The Transformation of the World Economy After World war II, things became very different. The capitalist victors led to conflict in the United States. In 1944 New Hampshire set an agreement and institution that laid the foundation for postwar globalization. Technology contributed to the growth in economic globalization. Shipping, oil tankers, and air expressed services lowered the transportation cost. Reglobalization Money and goods achieved global mobility in three ways. One way was "foreign direct investment". This investment exploded in 1960 after companies in rich countries took advantage of cheap labor, tax breaks, and looser environment regulations in developing countries. The second form was when money that was in motion had been the short-term movement of capital, in which investors annually spent trillions of dollars purchasing foreign currencies or stocks to increase...
Revolution, Socialism, and Global Conflict The Rise and Fall of World Communism 1917-present Global Communism Modern communism founds its roots in the 19th century. The Europeans thought that there goal would be achieved peacefully and the democratic process. Russia called the Soviet Union, which was the first country to experience revolution. By the 1970's 1/3 of the population lived in government communities. The Soviet Union was the largest country in size. China was the largest country in population. But the Communist regimes came to power in Eastern Europe in between World War II and the extension of the Soviet military.