GLO: Lesson - Post World War II Trends: Global Bonds
Post World War II Trends: Global Bonds
Technology
Since World War II, technological innovation has brought the world closer together by increasing communication speed, lowering the cost of international transportation, and globalizing the world’s economy.
Satellites have been dramatically integrated into the world’s economy since the first one was launched in 1957. In 1962, a multi-national group launched Telstar, which enabled live international news footage. This allowed businesses to grow. In the 1980s, GPS (USA) and GLONASS (USSR) were the first to use satellites for navigation, which increase the safe and reliable shipment of goods to the market. Today, they are used for internet and phone connectivity as well as to help international forces respond to natural disasters, which helps countries with limited infrastructures continue to participate in the international economy.
Television and movies create millions of jobs worldwide; The United States, India, China, Nigeria, and France are some of the top film producers on a global scale. With the invention of internet streaming services, international films and television series can be viewed worldwide.
But perhaps the biggest impact of technology on the economy has been through computers. Initially, computers helped business owners increase productivity through accurate resource management and calculations. At the close of the 20th century, the Internet launched new small and large businesses worldwide. Transactions can occur instantaneously, and even small, remote sellers can participate in the global market.
Image note: A person uses an early personal computer.
Globalization
Businesses and political organizations have also helped bring the world closer together. Multinational corporations, or companies that have distribution centers or facilities in more than one country, have a vested interest in stable, safe trade. Companies like Apple, McDonald's, and Exxon Mobile have successfully created production centers and stores around the world.
This has homogenized international cultures, although food companies do cater to local tastes (for example, did you know that there are over 300 flavors of Kit Kats in Japan?). This explosion in trade is largely the result of a decrease in international tariffs and an increase in free trade agreements like the EU (1993), NAFTA (1994), and the WTO (1994).
Image note (left): Original design of the McDonald’s logo, with 1 arch and the “Speedee” mascot, in front of the world’s oldest operating McDonald’s, located in California.
Image note (right): A Modern McDonald’s with the current Golden Arches logo, but with Korean characters in Seoul, South Korea. McDonald’s has expanded to 100 countries with nearly 40,000 locations.
The Environment
The more connected people are to each other, the more we realized our mutual impact on the environment. Since World War II, governments have cooperated to try to minimize the negative human impact on the earth. In the late 1950s and early 1960s, scientists discovered radioactive deposits in American food. This discovery helped lead to the USA, USSR, and UK signing an agreement to ban nuclear weapons testing. By the end of the century, 71 countries had signed (although only 9 countries have nuclear weapons).
Similarly, more countries worldwide have signed international environmental agreements. These agreements go back to the 1970s, but more modern examples include the Kyoto Protocol (1997), which aims to limit greenhouse gasses, and the Paris Agreement (2016), which aims to limit global warming. Additionally, in 2015, all 193 United Nations member states adopted a series of Sustainable Development goals. They intend to tackle poverty, inequality, conflict, and environmental destruction.
Image note: People stand in front of a plastic landfill. Our impact on the earth can be negative through pollution and waste buildup. This in turn can hurt the standard of living for humans and animals.
Practice Activity
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