Lasted from 1492 to 1800, shrank the world from a size large to a size medium, ageofmercantilismandcolonialism, driving forces were workforce, horsepower, windpower, and, later on, steampower
Age ofPax Britannica when Great Britain was the hegemonic power in terms of trade and economy, driving force was newinstitutions, particularlytheemergenceofglobalmarkets and multinationalcorporations
AgeofPax Americana when the UnitedStatesofAmerica was the hegemonic power in terms of security, trade, and economy, occurred during the second half of the 20th century
Play a substantial role in the global economy, enjoy a multitude of privileges such as unquestionable access to vast amounts of wealth they draw from their income, theoretical immortality to a certain extent, and the ability to pit themselves against one another
More flexible and independent in comparison to nation-states which seem to lack the capacity to dictate how MNCs ought to behave
MNCs play a pivotal role not only in the global economy but in the international political community as well, alongside nation-states in terms of their capacity to sustain themselves and considerably to influence the members of the international community
NewYork ranked the highest in terms of the general criteria i.e., business activity, human capital, information exchange, cultural experience, and political engagement in the 2018 Global Cities Index
Globalcities are also perceived as sources of economic growth and are also economic powerhouses themselves, coupled with being industry leaders and regional hubs
Demography is a field in statistics that is concerned with births deaths, income, or the incidence of disease, which later illustrates the changing structure of human populations
Demography is a statistical study to determine world population that can be used as a tool to identify certain phenomenon in geopolitics, public administration, and others
Mortality rate declined followed by fertility, causing population growth rates to accelerate and then to slow down again, leads to low fertility, long life, and an old population
The global demographic transition all began in the 19thcentury when Europeans were declining in mortality rate and there were some rising societies in Asian and LatinAmericanregions
The ongoing transition in global demography is caused by formal migration and some historic events, such as colonialism, inter-warreduction, and post-worldmigration
Most developed nations have completed this demographic transition and thus have low birth rates and high income; developing nations, however, are still in transition
The factors that led to low fertility rate are the preference over child survival than number of child births and the assumption that raising children is more costly than the consumption of goods, as children render less economic contributions due to years spent on education