Final answer:
The statement that cotton growth in South Asia and Egypt, and its exportation to European countries contributed to European and American economic advantage is true. Cotton from the American South was predominant in supplying the British textile industry and was instrumental in the Industrial Revolution.
Step-by-step explanation:
The question is asking whether the growth of cotton in South Asia and Egypt, which was exported to Great Britain and other European countries, contributed to European and American economic advantage. The statement is true. Cotton was a significant commodity that underpinned much of the industrial development in Europe and America during the 19th century. It was grown extensively in the American South, and by 1860, the region produced about 80 percent of the global cotton supply which was predominantly exported to Great Britain. This export fueled the British textile industry, which was a cornerstone of the Industrial Revolution. While cotton was also sourced from colonies like India and Egypt, the majority that drove the textile industry's boom came from the American South.
The exportation of cotton provided substantial economic benefits to European industrialists and American plantation owners, albeit at the great human cost of sustaining and expanding the institution of slavery.