Which of the following is a key feature of globalization? A) Restriction on technological transfers B) Establishment of fixed exchange rates C) Reduction in foreign direct investme... Which of the following is a key feature of globalization? A) Restriction on technological transfers B) Establishment of fixed exchange rates C) Reduction in foreign direct investments D) Import liberalization to facilitate trade
Understand the Problem
The question is asking to identify a key feature of globalization from the provided options. We will analyze each option to determine which one aligns with the principles and characteristics of globalization.
Answer
Import liberalization to facilitate trade.
The key feature of globalization is import liberalization to facilitate trade.
Answer for screen readers
The key feature of globalization is import liberalization to facilitate trade.
More Information
Import liberalization is a process that reduces restrictions and tariffs on imported goods. This reduction in barriers facilitates cross-border trade and is a fundamental aspect of globalization, which seeks to integrate world markets.
Tips
A common mistake could be confusing globalization features with economic protectionism, which involves increasing restrictions rather than reducing them.
Sources
- Chapter 3: Trade Agreements and Economic Theory | Wilson Center - wilsoncenter.org
- [DOC] World Trade Organization - wto.org
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