Final answer:
Malcolm McLean revolutionized global trade with his invention of the intermodal container in the 1950s, significantly reducing shipping costs and enhancing efficiency in cargo transport across various modes.
Step-by-step explanation:
The invention that revolutionized how products are shipped at reduced cost and is considered a key facilitator of global trade is the intermodal container, introduced by Malcolm McLean.
Before containerization, the process of loading and unloading cargo, known as breaking bulk, was inefficient and costly. Malcolm McLean, who was a transport entrepreneur, invented the intermodal container in the 1950s to address this issue. These metal boxes could easily be filled with cargo, quickly stacked, and moved across different transport modes—trucks, trains, barges, and ships—without unloading the contents. This innovation, also known as shipping containerization, led to a drastic reduction in shipping costs, by as much as 90%, and surged the efficiency of moving goods globally.
The widespread adoption of standardized containers allowed various shipping companies to mix and match cargo on the same transport carrier, thereby reducing the cost and time needed for delivery. The profound impact of Malcolm McLean's invention was not only on global shipping logistics but also on promoting globalization, shaping the modern world economy.