The impact of globalization on world economies in the late 20th century was profound, characterized by increased interconnectedness and interdependence among nations. Advances in technology, communication, and transportation facilitated international trade, investment, and the flow of capital and labor. Globalization contributed to rapid economic growth in many developing countries, lifting millions out of poverty. However, it also led to disparities, as some regions experienced underdevelopment and unemployment due to competition with multinational corporations. Additionally, globalization influenced cultural exchanges, political relations, and environmental challenges. The phenomenon reshaped local economies, prompting debates about its benefits and drawbacks, emphasizing the need for policies that can manage its effects on diverse populations.