TheFirst Era of Globalization broke down with the First World War, andlater collapsed during the gold standard crisis in the late 1920s andearly 1930s. Some researchers precisely consider the1870-1813 as the First Era of Globalization (Obstfeld and Taylor 2004).This era is characterized by rapid growth in international trade andinvestment between the European imperial powers and their colonies. The 19th century is sometimes called 'The FirstEra of Globalization'. It is noted that the globalization is not new buthas, nowadays, distinctive features such as new markets, newtechnological tools, new institutions, and new rules that permit groupsand corporations to transcend national boundaries establishing globalnetworks that permit real-time capital exchange operating 24 hours a day(UN 2000).īefore going further, let us briefly put things in their properhistorical context. UNESCO described globalization, in a similarway, as a multidimensional phenomenon consisting of numerous complex andinterrelated processes, resulting in varied and sometimes unpredictableaffects (UNESCO 2003). It does not store any personal data.Globalization, as defined by the United Nations (UN), consists of amultiple, complex and interrelated processes that can have dynamism oftheir own (OHCHR 2008). The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category 'Performance'.

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