Globalization - When did Globalization Begin?

Globalization - When did Globalization Begin?: "The World Bank states that there have been three 'waves' of globalization. The first began in 1870 and ended at the beginning of World War I in 1914. It was characterized by a reduction in trade barriers and and improvement in transportation technologies, which resulted in major migration of about 10% of the world's population. The next wave occurred from 1950 to 1980 during which multiple trade agreements occurred between developed nations which left out the developing world. The final(and current) wave of globalization(beginning 1980) in contrast has been characterized by the willingness of developed nations to remove trade barriers in order to attract foreign capital."