NAFTA and the Era of Globalization

The concept of globalization entered a new phase at the turn of the 21st century, fueled by advancements in technology, trade agreements, and political movements. This period saw various regional economic integrations and the emergence of multinational corporations with new strategies. Among these developments, significant debates emerged regarding the impact of globalization on national sovereignty and local economies.

Which of the following events in the 1990s is best characterized as embodying the principles of globalization, particularly in terms of promoting international trade and economic cooperation?