The link between labor costs in china and the price of mp3 music players in the u. s. is an example of

The correct answer is:  globalization.

Explanation:

In Business, globalization refers to the tendency of international trade, investments, information technology and outsourced manufacturing to weaving the economies of diverse countries together. Globalization has been credited with helping shift wealth to less-developed countries, as corporations take advantage of the lower cost of labor and operation in the developing world, thus creating jobs and economic benefits for the local economy.

the answer is risk management planning