Strong pressures for convergence due to a shared history and culture, or the establishment of a trading block where there are deliberate attempts to harmonize trade policies, infrastructure, and regulations have contributed to the rise in what trend?
A) Regionalism
B) Globalization
C) Monopolies
D) Nationalism
E) Traditional Practices

Question

Strong pressures for convergence due to a shared history and culture, or the establishment of a trading block where there are deliberate attempts to harmonize trade policies, infrastructure, and regulations have contributed to the rise in what trend?
A) Regionalism
B) Globalization
C) Monopolies 
D) Nationalism
E) Traditional Practices

Quizplus · Accepted Answer

Regionalism refers to a trend where countries with shared histories and cultures come together to establish closer economic, political, and social ties. This trend is often driven by a desire to increase economic integration within a region, and as such, there are deliberate attempts to harmonize trade policies, infrastructure, and regulations. This trend is often seen in trading blocks such as the European Union, the Association of Southeast Asian Nations (ASEAN), and the North American Free Trade Agreement (NAFTA).

Strong Pressures for Convergence Due to a Shared History and Culture