1. Cold War ends; United States emerges as sole superpower
2. Free trade agreements (NAFTA, EU expansion, WTO) accelerate economic integration
3. Information technology (internet, mobile phones) revolutionizes communication and commerce
4. China's economic rise transforms the global economy; many manufacturing jobs shift from rich to poor countries
5. Migration accelerates from poorer to richer countries
6. Climate change becomes recognized as an existential threat
7. September 11, 2001 attacks reshape global politics; war on terror, Iraq War
8. 2008 financial crisis exposes vulnerabilities of integrated financial systems
9. Populist movements emerge in many democracies as backlash against globalization and immigration
10. COVID-19 pandemic (2020) demonstrates global interdependence and its risks
11. Russian invasion of Ukraine (2022) and intensifying U.S.-China rivalry mark return of great-power competition

II. Economic Globalization

Economic globalization is the integration of national economies into a single global economy through trade, investment, migration of labor, and flows of technology and information. It has been the dominant force shaping the world economy since the early 1990s.