CONTENT STATEMENT
Emerging economic powers and improvements in technology have created a more interdependent global economy.
CONTENT ELABORATION
Emerging economic powers have resulted in the creation of a more global economy. This interdependent global economy is based on a market share in the production of some goods and services in the late 20th and 21st century.
The European Union was created in the early 1990s to strengthen the economies of the member nations and make them more competitive in the world market by using a common currency and eliminating trade barriers.
Improvements in technology increased interdependence in the global economy. These improvements include:
- expanded use of satellites;
- personal computers;
- Internet; and
- cellular and satellite phones.
EXPECTATIONS FOR LEARNING
Analyze the factors that have created a more interdependent global economy since 1991.