Final answer:
The correct answer is option b. Well-established legal systems offer continuity and consistency for global firms, providing a stable legal framework for international business operations. Critics highlight the negative impacts of globalization on the environment, local economies, and labor markets. Wealthier nations can impose market openness on poorer countries while defending their local industries, challenging the latter's developmental progress.
Step-by-step explanation:
When identifying a true statement regarding globalization, we should consider various aspects such as the impact on international trade, environment, labor markets, and local economies. One true statement is that well-established legal systems offer continuity and consistency for global firms (Option B). These systems provide a stable framework for international business operations, helping multinational corporations navigate legal complexities in different countries.
Critics of globalization argue that it has several negative effects. They point out that rapid industrialization can lead to environmental harm and economic disruption, and often occurs without sufficient regulatory environments. Additionally, the lack of social institutions to protect workers can lead to suppressed labor movements. Another concern is that globalization allows wealthy countries to compel economically weaker nations to open their markets while shielding their own local products from competition. This is notably evident in cases involving agricultural products, which are crucial exports for developing countries. Globalization can intensify competition and market volatility, making it difficult for least developed countries (LDCs) to progress.