How has the adoption of free markets worldwide served as a driver of market globalization? Provide examples to support your answer

What will be an ideal response?

The adoption of free markets worldwide has helped to drive market globalization by helping to integrate former command economies into the global economy. Examples include market liberalization in the Soviet Union, China, Eastern Europe, India, and many countries of East Asia.

The collapse of the Soviet Union's economy in 1989, the tearing down of the Berlin Wall that same year, and China's free-market reforms smoothed the integration of former command economies into the global economy. Numerous East Asian economies, stretching from South Korea to Malaysia, Indonesia, and India had already embarked on ambitious market-based reforms. These events opened roughly one-third of the world to freer international trade and investment.