Rather than a universal process of economic deepening across the globe, much of what we think of as globalization is simply the:
A)integration of the former Soviet Union and Eastern Europe into the world economy and political order since 1989.
B)integration of China into the global market.
C)liberalization of U.S.trade to allow more imports.
D)decline of oil prices.
E)rise of the Indian economy.

Question

Quizplus · Accepted Answer

The integration of China into the global market can be seen as a major contributor to globalization, as it has been one of the fastest growing economies in the world and a significant player in international trade. While other factors such as the liberalization of trade and the rise of the Indian economy may also have contributed, they are not as central to the concept of globalization as the integration of China. The decline of oil prices is not directly related to globalization, and the integration of Eastern Europe and the former Soviet Union, while important, is not the only or even the primary driver of globalization.

Rather Than a Universal Process of Economic Deepening Across the Globe