Chapter 23

The Transformation of the World Economy
1919-1946: League of Nations
1945: United Nations, World Bank, and International Monetary Fund Established
1960: Organization of Petroleum Exporting Countries founded
1967: Six day Arab-Israeli war
1973-1974: Arab members of the OPEC place embargo on oil exports to the weat
1979: Convention to eliminate all forms of discrimination against women
1982: Sea laws introduced about uses of world oceans
1994: N. America Free Trade Network enabled
1995: World Trade Organization Created
1997: Kyoto protocol on globla warming introduced
2001: September 11 attacks on World Trade center and the Pentagon
2008: Gloal economic crisis began
2011: Osama Bin Laden killed

Reglobalization:
United States made the most in Foreign Investments during the late twentieth century.
-After the war countries wanted to provide dramatic quickening of global economic transactions to have a "reglobalization"
-After the world trade center was created the investments skyrocketed from $57 billion to $18.3 Trillion just from 1947 to 2012. These investments came from department stores and supermarkets around the world that stocked their shelves with goods from every part of the globe.

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