The global balance of power shifted with the end of the Cold War. Wars, territorial disputes, ethnic and cultural conflicts, acts of terrorism, advances in technology, expansion of human rights, and changes in the global economy present new challenges.
26. Emerging economic powers and improvements in technology have created a more-interdependent global economy.
Emerging economic powers (e.g., China, India, Brazil, Russia) have helped create a more interdependent global economy by gaining market share in the production of some goods and services.
The European Union was created in the early 1990s to strengthen the economies of the member nations and make them more competitive in the world market by using a common currency and eliminating trade barriers.
Improvements in technology, such as the expanded use of satellites, personal computers, the Internet and cellular telephones, have created a more interdependent global economy. For example, the Internet and cellular phones enable the sharing of business data and facilitate commercial transactions. The personal computer and Internet have transformed the workplace, permitting employees to work virtually anywhere in the world.
Expectations for Learning
Analyze the factors that have created a more interdependent global economy since 1991.