Asked by Kiana Cencula on Jun 17, 2024

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Increased globalization and financialization of world markets has created greater appreciation for country's unique differences and has allowed for greater preservation of unique social and political systems, cultures, standards, and ways of life.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, often resulting in increased connectivity and interdependence among global economies.

Financialization

The increasing influence of financial markets, financial motives, financial institutions, and financial elites on the economy and economic policy.

Political Systems

The framework of formal legal institutions that constitute a government or a state, determining how power is acquired, communicated, and exercised.

  • Recognize the impact of increased globalization and financialization on world markets, unique cultural and social systems.
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KJ
Kristin JohnsJun 21, 2024
Final Answer :
False
Explanation :
Increased globalization and financialization of world markets have led to homogenization and standardization of social and political systems, cultures, standards, and ways of life. As countries become more integrated into the global economy, they often adopt similar practices and policies to compete with one another. This can lead to the erosion of unique cultural and social identities in favor of a more uniform global culture.