According to Transformationalists, Globalization Is a Dynamic and Open Process

question 32

Multiple Choice

According to transformationalists, globalization is a dynamic and open process that is subject to influence and change. Which attribute is associated with this view?

• A) Globalization is a one-way flow of images, information, and influences.
• B) Globalization is a decentered and self-aware process characterized by links and cultural flows that work in a multidimensional way.
• C) We live in a state-centric world; governments must adopt a more active, inward-looking stance because of the process of globalization.
• D) Information takes longer to travel across space and time.

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Definitions:

Foreign-Exchange Reserves

Stockpiles of foreign currencies maintained by a nation’s central bank. Obtained when the central bank sells local currency in exchange for foreign currency in the foreign exchange market.

Terms of Trade

This refers to the ratio at which a country's exports are exchanged for its imports, influencing the country's economic health.

Real Interest Rates

The interest rate adjusted for inflation, representing the true cost of borrowing and the real yield to lenders.

British Pound

The United Kingdom's currency, a major global currency involved in international trading.