Globalization was welcomed around the world at the beginning of the 1990s

Globalization was welcomed around the world at the beginning of the 1990s. Different trade theories were used to explain benefits of free trade and market liberalization. However, by the end of the twentieth century, voices of discontent were beginning to rise from Asia to North America.

Identify and read at least three journal articles focused on trends in globalization. Then, respond to the following:

Identify current trends in globalization.
Reason whether the global economy will return to the mercantilist stage, or if benefits of free trade and market liberalization will prevail. Why or why not?
Write a two-to-three-page paper in Word format. Utilize at least three scholarly sources in your research.

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Global Economy: Between Free Trade and Protectionism Erika S. McNeil B6512 – M2A2 Argosy University/Atlanta Professor Dr. Patrick Kehres July 28, 2013 Foreign Trade the Global Way of Life Globalization has united a world of nations and has influenced business, culture and the social environment. Throughout the centuries there has been a transition from mercantilism in which countries focused on limiting imports to free trade. Although there are many benefits to free trade, there are also staunch opponents to this system. Human rights, child labor, environmental protection and lack of regulation are areas of concern. The writer will focus on the benefits of free trade and why this system will prevail as the opportunities it creates outweigh the risks. According to Trends in Globalization, there have been two times in history which spurred globalization. The first was during the mid-19th century and the second began after World War II. After World War 11 there was a substantial boom in expansion which resulted in an increase in merchandise exports by 8% between the timeframe of 1950-1973. Although there was a slowdown due to inflation directly following, in the 1990’s trade expansion increased again due to technology and innovation. “Despite the small contraction of trade caused by the dotcom crisis in 2001, the average expansion of world merchandise exports continued to be high – averaging 6 per cent for the 2000-07 period. For the entire 1950-2007 period, trade expanded on average by 6.2 per cent, which is much stronger than in the first wave of globalization from 1850 to 1913. As dollar prices expanded much faster after WWII than before WWI the nominal trade expansion of the former period is more than twice as fast as in the earlier period (9.8 per cent versus 3.8 per cent per annum).” ("Globalization and trade," 2008, page number).