Hi tutors, pwede po ba akong pa help sa report ko? paki explain naman po sakin ito nang maayos, salamat.

A BRIEF MODERN HISTORY OF GLOBALIZATION

• After becoming increasingly important in the twentieth century, international commerce and globalization prompted several nations to take action in order to preserve their own national interests. However, since political instability and terrorist acts have grown more regular in today's contemporary world, there has been a rising clamor for nations to preserve their national interests, which has prompted a number of responses. Globalization is not without its difficulties, but comprehending it allows us to better understand why it happens and, in some cases, how we might go about doing things differently in the future. Beginning in the late nineteenth century and early twentieth century, governments throughout the globe started to regulate their economies as if they were one unit. This was the beginning of globalization, as we know it today. Country leaders got together and forged agreements that enabled them to pool resources and cooperate toward a shared goal of economic growth. For example, the General Agreement on Duties and Trade,which was establishedwith the purpose of decreasing tariffs on imports, is still in effect. In addition, the pact guaranteed that countries would have equal trade rights with one another regardless of their inequalities in income. This was the first move towards globalization, and the United States was a strong supporter of the initiative. The most important reason why the United States sponsored this effort was to assure that European nations would not use their resources to react against the tariffs imposed by the United States. The Europeans viewed this as an opportunity to improve their profits while still maintaining their ability to freely trade with other nations. Because of these agreements, a global economic system was established, which expanded to other sectors and marketplaces and had an influence on international relations. The World Trade Organization (WTO) was established in 1994 as the next phase in the globalization process. With the GATT as a foundation, this agreement went beyond its original intent, opening the door for additional trade agreements and services while also increasing the integration of international markets. In order to prevent serious difficulties such as the conflict between states, discrimination against commodities from certain countries, and encroachment into national sovereignty over domestic markets, the World Trade Organizationwas established.