Final answer:
The first widespread recognition of global trade linkages occurred during the late nineteenth century, marked by significant developments in 1869. This early globalization was disrupted in the twentieth century by wars and economic crises, but resumed importance in the 1980s. Today, the WTO continues to support and regulate international commerce in a highly globalized world.
Step-by-step explanation:
The linkage of global trade was first widely recognized during the late nineteenth century, with a significant increase in integration of world markets. One might identify the year 1869 as a pivotal moment for the beginning of a truly global economy - the completion of both the Suez Canal and the Union Pacific railroad were critical developments. By the eve of World War I, steamships and railroads had expanded the markets for commodities such as wheat and wool to a global scale. The laying of the first submarine telegraph cable in 1858 and subsequent improvements in communication highlighted the global flow of information by 1900, enabling all of the world's major economic regions to communicate instantaneously.
However, this first wave of globalization faced significant setbacks with the advent of World War I, the Great Depression, and World War II, stunting the growth of international trade. It was not until the early 1980s that global economic forces regained the prominence they had prior to World War I, with respect to the size of the world economy.
Today, the World Trade Organization (WTO) plays a central role in regulating and facilitating world trade. Countries around the world join together with the support of the United Nations to develop and expand trade, recognizing the increasingly interconnected global economy. Globalization is a centuries-long process of integration, which despite interruptions by the world wars, has continued to evolve, affecting economics, technology, culture, and the movement of goods and information.