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1. How was the Silk Road a form of globalization?

From the price at which it was bought to the price at which it was sold, the multiple was
in the dozens. Part of the reason why the Silk Road worked so well was that it was mostly
controlled by two big empires. The Silk Road was a form of globalization because it made a
huge trade network that linked Europe and Asia's economies.

2. Why were the silk roads important to global development?

This is very important because the Silk Road created a huge network of trade that
connected the economies of people in Europe and Asia. It lets other countries send and receive
goods that are good for everyone, like raw materials. In addition to trade, the intellectual and
cultural exchange that happened in the cities along the Silk Roads brought travelers there.

3. Why were spices so important in the 15th century?

In the 15th century, spices were in high demand for both cooking and making medicines.
They came to Europe from the Middle East via land and sea routes. Along with their taste and
reputation as luxury goods, spices' value was also affected by their ability to heal and by the
amazing stories about how they were made.

4. Why is the Age of discovery so important to globalization?

Transportation, spices, and other discoveries made the Age of Discovery crucial to
globalization. Navigation and charting improvements helped future explorers and tourists.

5. What caused the first wave of globalization?

The Smoot-Hawley Tariff Act, which was passed in the US during the Great Depression,
caused the world's biggest economies to fight back, which hurt global trade a lot. Between 1870
and 1914, the first wave of global integration took place. This was made possible by lower
transportation costs and lower tariff barriers, such as the switch from sail to steam ships.

6. What are the similarities between globalization's first, second, and third waves?
The first, second, and third waves of globalization all had capital flow ratios. This is also
true of the second wave. This led to more international investment and made countries more
dependent on each other. Even though economic unification was a goal, there were less
restrictions on transactions between countries in both phases.
7. What is globalization 4.0 all about?
Globalization 4.0 is the fourth industrial Revolution. Thanks to the Internet, new
technologies, digitalization, and digital transformation, we're seeing globalization 4.0.
Globalization is uniting us like never before. Trade and communication are faster now that
everyone and every country can connect. AI created block chain, which all cryptocurrencies
used.