Question

Which of the following statements is true of globalization?

A) It fails to involve smaller firms.
B) It encourages the maintenance of the status quo.
C) It does not create threats to anybody.
D) It does not allow employees to provide services although most economies have become very efficient at producing physical goods.
E) It occurs through cross-border partnerships.

Answer 1

The true statement about globalization is that it occurs through cross-border partnerships. Critics, however, raise concerns about its negative impacts on local economies, environments, and income inequality.

Step-by-step explanation:

Among the statements provided, the true statement about globalization is that it occurs through cross-border partnerships. Globalization involves the integration of financial markets, governments, and cultures into a single world market, often facilitated by such international cooperation. However, globalization has also been criticized for its impacts, such as creating threats to local economies and environments, potentially worsening income inequality, and causing job displacement due to the outsourcing of production to countries with cheaper labor. Critics have also highlighted the challenges faced by least developed countries (LDCs) in adapting to the fast-paced global market.