The shift toward more open,integrated economies that participate in foreign trade and investment is referred to as ________.

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Globalization refers to the trend of increased economic interdependence among countries through the growth of international trade, investment, and capital flows. It involves increased openness, integration, and interconnectedness of economies. Protectionism is the opposite of globalization, which involves restricting foreign goods and investment in favor of domestically produced goods. Fair trade promotion is a movement that seeks to ensure that producers in developing countries receive fair prices for their goods, but it is not the same as globalization. Traditionalism is a belief in following long-established customs and practices, which is not directly related to economic integration.

The Shift Toward More Open,integrated Economies That Participate in Foreign