A Brief History of Globalization

1295 Marco Polo returns to Venice after a long sojourn in China, laden with silk and jewels and tales of the fabulous wealth of the Orient. His exploits rekindle a long-dormant interest in trade between Europe and the East

1500 Chinese Emperor Hongzhi makes it a capital offense to go to sea in a ship with more than two masts without special permission. In 1525, officials ordered all large ships destroyed

1854 Donald McKay’s Boston yard launches ships such as The Flying Cloud and The Champion of the Seas, the fastest clipper ever built

1914 The outbreak of World War I ends the first great age of globalization, when trade and international investment had boomed

1970 Boeing bets its fortunes on the 747 jumbo jet, which for the first time makes intercontinental air travel accessible to a mass market

1999 Riots at the World Trade Organization meeting in Seattle signal a backlash against free trade

2001 After arduous negotiations, China joins the WTO, hence integrating its economy into international trading patterns

2006 Dubai Ports World tries to buy 21 U.S. ports from a U.K. firm, but ferocious political and public pressure nixes the deal