Question

Which one of the following illustrates the level of globalization in our world today:

a) Rock songs by Australian artists recorded by American recording companies owned by Japanese corporations.
b) Unemployment in the U.S caused by production shifting overseas.
c) Changes in U.S. gas prices caused by oil production fluctuations in the Middle East.
d) Worldwide economic downturn in the wake of Sept. 11, 2001 terrorist attack.
e) Chain restraints putting local diners out of business in small-town America.

Answer 1

The scenario of Australian rock songs recorded by American companies owned by Japanese corporations best illustrates today's level of globalization, as it represents cultural, economic, and corporate international collaboration.

Step-by-step explanation:

Of the options listed, the one that best illustrates the level of globalization in our world today is 'a) Rock songs by Australian artists recorded by American recording companies owned by Japanese corporations'. This example touches on several aspects of globalization such as the international collaboration in cultural products, the multinational ownership of companies, and the global distribution of media, all of which reflect the interconnected nature of today's world economy and culture. This scenario showcases how cultural products are created and distributed on a global scale, which exemplifies the integration of global markets, and the influence of multinational corporations in our daily lives.

Other options such as the movement of manufacturing jobs overseas, the influence of global politics on local economies, the impact of international events on global economics, and the competitive pressures felt by local businesses in the face of international chains are also indicative of globalization. However, the first option, according to recent trends, more vividly represents the intertwining of cultural, economic, and corporate dimensions across continents–a hallmark of today's level of globalization.