HISTORICAL DEVELOPMENTS
In a trend accelerated by the end of the Cold War, many governments encouraged free market economic policies and promoted economic liberalization in the late 20th century. Also, in the late 20th century, revolutions in information and communications technology led to the growth of knowledge economies in some regions, while industrial production and manufacturing were increasingly situated in Asia and Latin America. Finally, changing economic institutions, multinational corporations, and regional trade agreements reflected the spread of principles and practices associated with free-market economics throughout the world.
Economic liberalization
N.A.F.T.A.
A.S.E.A.N.
Margaret Thatcher
Ronald Reagan
Tiananmen Square
Deng Xiaoping
Augusto Pinochet
US President Ronald Reagan and British Prime Minister Margaret Thatcher pushed privatization, deregulation & an overall diminishing of government involvement in the lives of Americans and Britains.