"In order to find a market for its surplus petroleum, the Standard Oil Company of New York has devised a plan to supply the Chinese market with cheap tin lamps. These lamps, known as 'Mei Foo' or 'Beautiful Companion,' are sold at a nominal cost to Chinese merchants and consumers. By distributing these lamps, the company has succeeded in replacing traditional vegetable-oil lamps with kerosene-burning ones, thereby securing a vast and steady market for American petroleum exports. Through this method of directly cultivating consumer demand and managing international distribution networks, the corporation has established a presence in almost every province of the Chinese Empire."
—Based on commercial reports describing the Standard Oil Company's marketing strategies in China, late nineteenth century
Directly reflecting the description above, the business strategy described in the passage best illustrates which of the following economic developments of the late nineteenth century?
- AThe reliance of Western corporations on direct territorial annexation and military occupation to secure foreign markets.
- BThe continuation of mercantilist policies designed to restrict colonial trade to state-chartered joint-stock monopolies.
- The expansion of transnational businesses that integrated global markets and stimulated consumer demand for industrial products.Answer
- DThe complete homogenization of traditional Asian cultures through the elimination of indigenous household goods.