Dennis Flynn and Arturo Giraldez, postulated that: globalization began with the first circumnavigation of the globe under the Magellan-Elcano expedition which preluded the rise of Global Silver Trade. Early modern globalization is distinguished from modern globalization on the basis of expansionism, the method of managing global trade, and the level of information exchange. The period is marked by such trade arrangements as the East India Company, the shift of hegemony to Western Europe, the rise of larger-scale conflicts between powerful nations such as the Thirty Years' War, and the rise of newfound commodities—most particularly slave trade. The Triangular Trade made it possible for Europe to take advantage of resources within the Western Hemisphere. The transfer of animal stocks, plant crops, and epidemic diseases associated with Alfred W. Crosby's concept of the Columbian Exchange also played a central role in this process. European, Muslims, Indian, Southeast Asian, and Chinese merchants were all involved in early modern trade and communications, particularly in the Indian Ocean region. Modern According to economic historians Kevin H. O'Rourke, Leandro Prados de la Escosura, and Guillaume Daudin, several factors promoted globalization in the period 1815–1870: The conclusion of the Napoleonic Wars brought in an era of relative peace in Europe. Innovations in transportation technology reduced trade costs substantially. New industrial military technologies increased the power of European states and the United States, and allowed these powers to forcibly open up markets across the world and extend their empires. A gradual move towards greater liberalization in European countries. During the 19th century, globalization approached its form as a direct result of the Industrial Revolution. Industrialization allowed standardized production of household items using economies of scale while rapid population growth created sustained demand for commodities. In the 19th century, steamships reduced the cost of international transportation significantly and railroads made inland transportation cheaper. The transportation revolution occurred some time between 1820 and 1850. More nations embraced international trade. Globalization in this period was decisively shaped by nineteenth-century imperialism such as in Africa and Asia. The invention of shipping containers in 1956 helped advance the globalization of commerce. After World War II, work by politicians led to the agreements of the Bretton Woods Conference, in which major governments laid down the framework for international monetary policy, commerce, and finance, and the founding of several international institutions intended to facilitate economic growth by lowering trade barriers. Initially, the General Agreement on