Some fairly dramatic changes have taken place in the demographics of the global economy over the past three decades. Several factors have played a significant part in shaping this change.

CONCEPT REVIEW:
Since the 1960s, four major factors have contributed to the changing world economy and the world trade picture. These factors are U.S. dominance in the world economy, U.S. dominance in the world foreign direct investment, dominance of large multinational U.S. firms, and lack of trade with centrally planned economies. All of these have either changed, or are rapidly changing the global economy of today.