| Era | Mid-1900s onwards |
| Causes | Global upheaval • Nuclear conflicts • Communist regimes' fall |
| Concept | Economic liberalization |
| Results | Open global economy • Rise of unexpected players • Reshaping of societies |
| Catalysts | Central and Eastern European nations • Emergence of economic alliances and trade blocs |
| Opposition | Multinational corporations • Cultural protectionism |
| Notable events | Collapse of communism in Europe • Formation of new trade blocs |
