Question

according to the world bank, more than 600 million chinese citizens have advanced out of poverty since the implementation of economic reforms that started in 1978 in their country. since india initiated economic reforms in 1991, the country has become a fast - growing economy, with the middle class exceeding 500 million out of a total population of some 1.37 billion. several positive factors have affected economic growth and income, such as those identified in the earlier examples, but they likely could not have occurred without what?
o a. international monetary system
o b. globalization
o c. capital market
o d. antitrust law

Explanation:

Globalization has enabled countries like China and India to access international markets, attract foreign investment, and benefit from the exchange of technology and ideas during their economic reform periods. Without globalization, these positive economic changes might not have occurred to the same extent.

Answer:

B. globalization