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Analysis of an important early phase (in most cases, early 20th century or prior) in the globalization of one commodity (i.e., apples or air conditioners, bananas or bicycles, coffee or cement, etc.). Be sure to demonstrate your understanding of our assig - Essay Example

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People at the time were convinced with the idea of free trade because it allowed them to make more profits and good money which helped them to earn livelihood with greater benefits and…
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Analysis of an important early phase (in most cases, early 20th century or prior) in the globalization of one commodity (i.e., apples or air conditioners, bananas or bicycles, coffee or cement, etc.). Be sure to demonstrate your understanding of our assig
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Extract of sample "Analysis of an important early phase (in most cases, early 20th century or prior) in the globalization of one commodity (i.e., apples or air conditioners, bananas or bicycles, coffee or cement, etc.). Be sure to demonstrate your understanding of our assig"

Download file to see previous pages How globalization affected commodities’ trade and business is the question to be addressed in this paper (Brown).
History asserts that every market, which sees a boom, has to face the fall one day. No market is everlasting or ever sustaining as depicted by the trade historians. Every market has the tendency to change and to transit with the aspect of time. It was during the mid nineteenth century, when United States became the pioneer in the cotton industry. Later the leading position in being pioneers shifted to Japan, Hong Kong, and Taiwan, which were later successful producers of cotton and wool. Similarly, it was consumer electronics segment in which US first dominated in the 1990s (Rivoli 1). Later the success of this market got shared with other Asian competitors such as Taiwan, China and Japan, which after US established a great name and worth in the consumer electronics segment. It showed the world that every market went to transition after some point of time and after some point of growth and succession (ORourke and Williamson). Actually, it was uncertainty that got attached to every market segment, and when a new market started moving up, the old market got replaced automatically and undisputedly. This was the first trend of globalization, the trend of market capitalism, which the early commodities faced in the nineteenth century era. It was the trend that was attached and associated with every moving commodity. Whether it was cotton or wool, coffee, or grains or consumer electronics every market faced the fall and the rise after some point of time (Topik, Marichal and Frank 60). However, it is a time-tested history that US dominated the cotton segment for more than two decades (DeWitt). Historians write that US managed a great name and position in the cotton world during the 1990s. Historians project that the cotton industry was the open door of globalization in US (Rivoli ...Download file to see next pagesRead More
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