Select the most appropriate word to fill in the blank and make a meaningful sentence.

When we talk of ‘globalization’ we often refer to an economic system that has ________ in the last 50 years or so.

emerged

The most appropriate word to fill in the blank is emerged.

The word "emerged" means to come into being or to become visible. It is the most appropriate word because it accurately describes the development of globalization over the past 50 years. Globalization has been a gradual process, and it has only become truly global in recent decades.

The other options are not as appropriate.

• Proceeded means to move forward or to continue on. It does not make sense in the context of the sentence, because globalization is not something that has moved forward or continued on.
• Derived means to come from something else. It does not make sense in the context of the sentence, because globalization is not something that came from something else.
• Flowed means to move smoothly and continuously. It does not make sense in the context of the sentence, because globalization is not something that moves smoothly or continuously.