Which of the following examples refers to political factor influencing economic globalization?Select one:a.Wal-Mart benefits greatly from having the vast majority of its goods manufactured in China.b.IBM currently employs more workers in India than it does in the United Statesc.The founding of the World Trade Organization (WTO)d.The Lydians introducing the coins in the western world in 700 BC
Question
Which of the following examples refers to political factor influencing economic globalization?Select one:a.Wal-Mart benefits greatly from having the vast majority of its goods manufactured in China.b.IBM currently employs more workers in India than it does in the United Statesc.The founding of the World Trade Organization (WTO)d.The Lydians introducing the coins in the western world in 700 BC
Solution
The correct answer is c. The founding of the World Trade Organization (WTO). This is a political factor influencing economic globalization because the WTO is an international organization that deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible. This has a direct impact on economic globalization by promoting international trade.
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