Final answer:
String theory addresses the problem of time in different ways depending on the context. The target spacetime formulation of string theory has a concept of universal background time, but it does not fully resolve the problem of time in the context of quantum gravity. The CFT part of the AdS/CFT correspondence, however, does have a well-defined universal time.
Step-by-step explanation:
In string theory, the notion of time evolution is addressed differently depending on the context.
While the target spacetime formulation of string theory does have a concept of universal background time given by the target spacetime, it does not fully resolve the problem of time in the sense that it does not establish a fundamental theory of time evolution compatible with quantum gravity.
On the other hand, in the context of the AdS/CFT correspondence, which relates string theory to a conformal field theory (CFT), the CFT part of the correspondence does have a well-defined universal time.
However, it is important to note that the AdS/CFT correspondence is a conjectured duality and not a complete theory of quantum gravity on its own.