1. The fact that United States has become a consumer nation, rather than one that manufactures has also contributed to globalization. When President Clinton gave more support to the North American Trade Agreement, the textile industry, founded in the South, virtually ended in America and opened trade with several countries, including Vietnam, Nepal, and such.
2. The lower prices for which products can be bought from other countries strongly contributes to global trade, also. Certainly, after President Nixon opened trade with China, the consumption of products less expensive thab in the U.S. began.
3. Another factor that immensely contributed to the increase in globalization is the ease with which trade can be conducted now. After the cancelling of the gold standard in the U.S. in 1971, money was printed and it flowed overseas to pay debts. This ease of transfer of money certainly expedited trade, etc. Nowadays, electronic transfers of money have replaced slower methods. Transaction among countries are much easier, also, since the Euro has been accepted as currency in the continent of Europe. With a common unit of money, the value of products can easily be ascertained, so that countries can quickly make judgments regarding trade and business. Access to the value of the yen, or other units of money can be completed with ease. as well.