Final answer:
Globalization has expanded as political barriers have fallen, allowing for the proliferation of global supply chains. It is exemplified by reductions in trade barriers, advancements in transportation and communication, and the development of global commodity chains, contributing to a more interconnected international economy.
Step-by-step explanation:
Falling political barriers have created increased opportunities to build global supply chains, a phenomenon best described by the term globalization. Globalization refers to the process by which businesses or other organizations develop international influence or start operating on an international scale. It is characterized by reductions in tariffs, quotas, and other trade barriers, enhanced transportation infrastructure, and advancements in communication technologies. Combined, these elements have opened up markets and integrated economies, allowing for goods, services, and information to flow more freely across borders. As trade barriers fall and global networks strengthen, supply chains become more efficient and profitable, enabling greater economic development and consumer access to a more diverse range of products. Moreover, international agreements have facilitated this greater trade, leading to an interconnected global economy.
For instance, thanks to globalization, a company might design a product in one country, manufacture components in several others, and then assemble the final product in a different country entirely. The final product might then be sold globally. The development of global commodity chains—such as maquiladoras in Mexico where workers assemble imported materials into finished goods—highlights the complex interconnectivity of international economic relations in production and marketing, which has been a direct outcome of globalization.