What was the impact of globalization on economic policies in the 20th century? 🔊
The impact of globalization on economic policies in the 20th century was profound, facilitating increased trade, investment, and interdependence among nations. This era saw the promotion of free trade agreements and economic cooperation through organizations like the WTO (World Trade Organization) and the IMF (International Monetary Fund). Countries often adapted their economic policies to attract foreign investment and integrate into global markets, leading to significant changes in labor standards, environmental practices, and business regulations. However, globalization also spurred debates about inequality and economic sovereignty.
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