2) What factors contributed to economic globalization in the second half of the twentieth century? The first half of the twentieth century witnessed a deep concentration of global economic linkages as the aftermath of World War I and then the Great Depression. This was very big damage to the world’s economy. There was a major acceleration in international economic transactions that took place in the second half of the twentieth century and continued into the twenty-first. The "Bretton Woods system" negotiated the rules for commercial and financial dealings among the major capitalist countries, while promoting relatively free trade, stable currency values linked to the US dollar, and high levels of capital investment. The technology was a major contributor to the acceleration of economic globalization. Containerized shipping, huge oil tankers, and air express services dramatically lowered transportation costs. Later the internet provided communication for global economic i...