The world economy is becoming more global in scale. Consider the major drivers of globalization and how they seem to be thrusting major nation-states toward a more tightly integrated global economy. If the current trends continue, China may be the world's largest economy by 2020. Discuss the possible implication of such as development for (a) the world trading system, (b) the world monetary system, (c) the business strategy of today's US-based global corporations and their European counterparts, and (d) global commodity prices.