Final answer:
The globalization of capital, which refers to the increased economic integration facilitated by multinational corporations and increased capital mobility, is indeed true. It leads to economic policies favoring floating exchange rates and generally benefits mobile capital owners.
Step-by-step explanation:
The statement that globalization of capital refers to the aggregate activities of firms that give rise to economic integration is true. Economic globalization encompasses the growing economic interdependence of national economies across the world through an increase in the movement of goods, services, technologies, and capital. This includes the increased mobility of capital across borders, which has been facilitated significantly by global financial integration, the interconnection of financial markets worldwide. This trend in global capital flows is often supported by multinational corporations and impacts domestic politics, leading to the adoption of policies that favor floating exchange rates.
Such capital mobility can disproportionately benefit those with mobile assets, like investors, in the short term and can often lead to a long-term preference for policies that favor capital owners over workers or other less mobile economic participants. Additionally, the development of global commodity chains is another aspect of globalization, linking workers and corporations internationally in the process of manufacture and marketing. The complexity of globalization's effects on the world economy underscores its far-reaching implications.