In the period from the late Middle Ages through the end of the 18th century, Mainly due to the advances in ship design and navigation system, the European explorers opened up new frontiers in the American continent and the Middle East to trade. In the beginning of 19th centruy, the European states needed raw materials found in colonies, hence international trade expanded throughout the world. Throughout 19th century it became necessary for European industrialized nations to expand their markets globally in order to sell products that they could not sell domestically in their countries. The period following World War I, the world experienced a major decline in trade and investment in the period following World War I, so states enacted policies to protect themselves from the effects of the crisis. The post World War II period, the goals were to promote free trade to stimulate international capital flow and to establish a stable exchange rate system. The correct answer is B.