Globalization- Globalization has created a big impact on our nations resulting in an increase in our economy.

Plastic

1950

In the Western World and in Asia, scientific knowledge increased. One example would be "In the 1950s, a process to develop plastics at low pressures and low temperatures was perfected." (Beck and Black 945). The development of low pressures and low temperatures allowing for the perfection of the form needed. By perfecting the development of plastic industries began to make toys, containers and cooking utensils.

Technology

1980

Technology improved which meant fewer need for factory workers. As stated by Beck and Black, "By the 1980s, people could transmit information quickly and cheaply. Information industries such as financial services, insurance, market research, and communications services boomed" (Beck and Black 945). As technology increased companies began to transfer information from one company to another in faster and cheaper methods. This could be used when working with Multinational corporations.

Trade

1995

Years after World War II nation leaders decided that something should be done about the expense of trade. As stated by the textbook, "By 1995, the World Trade Organization was established to supervise free trade" (Beck and Black 947). Free Trade is the exchange of goods at a close to free price.