Question

1)Describe how the global economy has taken shape since ~1500
2)Describe how the geopolitical framework of the world has evolved since ~1500
3)Explain how processes of economic and political globalization both support and limit each other (e.g. how economic globalization weakens the economic role of the nation-state)

Answer 1

Since 1500 economic globalization has become a conquering force.

Explanation:

• Globalization started almost 2000 years ago and now the global economy has changed a lot since 1500.
• Since then the economy has entered a new digital arena of globalization.
• From the beginning of the first-century trade of luxury goods started to appear on the other edge of the globe.
• This led to the foundation of trade between Asia and Europe.
• This was the rise of new economic globalization.