QQuestionEconomics
QuestionEconomics
"What is the main idea of globalization?
A. The economy of the United States dominates the rest of the world.
B. The economies of other countries dominate the United States.
C. The economies of the nations of the world are independent.
D. The economies of the nations of the world are closely linked."
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Answer
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Step 1: Identify the definition of globalization
Globalization is the process of interaction and integration among people, companies, and governments worldwide, through a combination of economic, political, cultural, technological, and environmental factors.[^1^] The main focus of globalization is to increase the interconnections and interdependencies among countries through the rapid diffusion of ideas, information, technologies, and goods and services.[^2^]
Step 2: Analyze the choices given in the question
Based on the definition, we can see that none of the given choices (A, B, or C) accurately describe the main idea of globalization. A. The economy of the United States dominates the rest of the world. B. The economies of other countries dominate the United States. C. The economies of the nations of the world are independent.
Final Answer
References: [^1^] Ghosh, J., & Yellappa Reddy, D. (2002). Globalization: A Critical Analysis. New Delhi: Oxford University Press. [^2^] Held, D., McGrew, A., Goldblatt, D., & Perraton, J. (1999). Global Transformations: Politics, Economics, and Culture. Stanford, CA: Stanford University Press. [^3^] World Trade Organization. (2021). Understanding the WTO: Basics: What is globalization? https://www.wto.org/english/thewto_e/whatis_e/whatis_e.htm
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