The end of Bretton Woods marked the beginning of globalization as we know it today. It brought about a shift in the international economic system and laid the foundation for a more interconnected world. This period saw the emergence of key concepts and factors that contributed to the making of a global world.

1. The Collapse of the Bretton Woods System:
The Bretton Woods system, established in 1944, aimed to promote international monetary cooperation and stability. It was based on fixed exchange rates pegged to the US dollar, which was in turn backed by gold. However, the system started to face challenges in the 1960s due to increasing US trade deficits and the accumulation of dollars by foreign countries. Eventually, in 1971, the US suspended the convertibility of dollars into gold, leading to the collapse of the Bretton Woods system.

2. Floating Exchange Rates:
Following the collapse of Bretton Woods, most countries adopted floating exchange rates, where the value of their currencies fluctuated based on market forces. This allowed for more flexible exchange rates and facilitated international trade and investment.

3. Liberalization of Trade and Investment:
The end of Bretton Woods coincided with a wave of liberalization measures aimed at reducing trade barriers and promoting international trade. Countries started to lower tariffs, dismantle import quotas, and negotiate regional and bilateral trade agreements. This opened up new opportunities for businesses to expand globally and fostered the integration of economies.

4. Technological Advancements:
The period after Bretton Woods witnessed significant technological advancements, particularly in communication and transportation. The development of the internet, satellite communications, and containerization revolutionized the way businesses operated and facilitated the flow of information and goods across borders. This, in turn, contributed to the expansion of global trade and investment.

5. Rise of Multinational Corporations:
Globalization also saw the rise of multinational corporations (MNCs) that operated in multiple countries. MNCs took advantage of liberalized trade and investment policies, technological advancements, and economies of scale to establish global production networks. They played a crucial role in driving economic growth, creating jobs, and transferring technology and knowledge across borders.

6. Financialization of the Global Economy:
The end of Bretton Woods also marked the beginning of the financialization of the global economy. With floating exchange rates and liberalized capital flows, financial markets became more integrated and interconnected. This led to the growth of international financial institutions, such as banks, stock exchanges, and hedge funds, which played a significant role in allocating capital globally.

7. Global Supply Chains:
Globalization facilitated the emergence of complex global supply chains, where different stages of production are spread across multiple countries. This allowed for cost efficiencies, specialization, and access to new markets. However, it also made economies more interdependent and vulnerable to disruptions, as seen during the COVID-19 pandemic.

In conclusion, the end of Bretton Woods marked a pivotal point in history, leading to the making of a global world. The collapse of the Bretton Woods system, the adoption of floating exchange rates, liberalization of trade and investment, technological advancements, the rise of MNCs, financialization, and the emergence of global supply chains were key factors that shaped the globalized world we live in today.