Tokyo/Portland Map on During the period 18701914, large investments were made in CANADA and AUSTRALIA. Apart from this, rapid development of COMMUNICATION technologies (steam ships, railways, and telegraphy) enabled export of capital to a number of countries in Asia, Africa, and Latin America for building economic infrastructure to facilitate the export of raw materials, and the import of European manufactured goods. The growth of large national corporations during this period resulted in intense rivalry and occasional conflict between the dominant industrial countries, as their respective national corporations sought to secure sources of raw materials, and markets for their goods and capital in the rest of the world. These tensions constituted one of the underlying factors leading to WORLD WAR I. The mid-20th century to the present can be called the era of multinational corporations, the information revolution, and the financial sector. After WORLD WAR II, a new era of globalization and (after the end of the Cold War) a new structure of power relations emerged whose specific features are just beginning to be manifested. At least three characteristics distinguish the globalized economy at the end of the 20th century from that of the late 19th century. Tokyo/Portland Map 2016.
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