lecture_4sep07_deGorter - Trade and Globalization First age...

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1 Trade and Globalization First age of globalization in the decades before WWI (similar to now) Because it was: under the aegis of the United Kingdom stimulated by technological advances The world enjoyed an era of: liberal trade free movement of people free movement of capital Real GDP per head rose 1.3 % per year from 1870 to1913 (unprecedented) Asia and Africa lagged (victims of colonialism)
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