Final answer:
President Clinton's administration took multiple steps to harness the benefits of globalization and enhance the US economy, including technological integration, the promotion of NAFTA, tax reforms, and budget management that led to substantial economic growth and the longest expansion period in US history.
Step-by-step explanation:
During the 1990s, President Bill Clinton's administration took various steps to benefit from globalization and to strengthen the US economy. The administration was proactive in embracing technological advancements, highlighted by launching an official White House website in 1994 to join the revolution of an electronically mediated world.
Clinton skillfully addressed the economic frustrations of Americans who had suffered from a recession by opposing Republican policies favoring multinational corporations and their role in accelerating deindustrialization and the loss of American jobs.
Furthermore, under Clinton's leadership, the US experienced the longest period of economic expansion in its history, with significant job growth and the transformation of the national budget deficit into a substantial surplus. This was achieved through increased tax revenue, budget cuts, and the release of capital for private-sector use due to reduced government borrowing.
Homeownership rates soared, inflation decreased, and unemployment rates hit a 30-year low by the end of the decade.
Internationally, Clinton's foreign policy focused on revising and expanding the North Atlantic Treaty Organization (NATO), strengthening relationships in Asia, and bringing post-Soviet Russia into the international community.
The Clinton administration also supported the North American Free Trade Agreement (NAFTA), which reduced trade barriers between the United States, Mexico, and Canada, aiming to create a new world of economic opportunities despite opposition from many Democrats and labor unions.
The Clinton administration's successes in these endeavors were critical to the unprecedented economic boom of the 1990s, which culminated in increased corporate profits and the skyrocketing of the NASDAQ stock exchange, particularly benefiting sectors such as technology. Clinton managed to maintain his popularity despite various investigations into his personal finances and administration.