Question

What is the role of international institutions and organisations in globalisation in the period after 1945?

Answer 1

The story of globalisation however was not over. The end of the World war II makes a new beginning for the global economy during 1945. Under the leadership of the new hegemon, the United State of America,and aided by the technologies of the second industrial revolution like the car and the plane,global trade started to rise once again. At first this happened in two separate tracks as the iron curtain divided the world into two spheres of influence.

Globalisation 1.0 refers to the rapid growth in World Trade mainly during the 19th century or it can be called the the pre 1914 period.it was driven by innovations in transport and communications including the railway age steamships and the electric telegraph which further reduced the cost of global transport and enabled the the separation of production and consumption across international borders.

Globalisation 2.0 or post 1945 Era refers to the international industrialisation after the second world war. It is driven by greater international corporation. The postwar period sawless protectionism and a rapid growth in World Trade at least in western economies.in the early decades after World war II institutions like the European union and other free trade vehicles championed why the US where responsible for much or the increase in international trade.