We examine the large-scale spatial and temporal variations in the emergence of X-ray bright points on the sun, in order to study the global properties of magnetic flux emergence. Major variations in the rate of flux emergence are observed at all solar latitudes, on a time scale of 3-5 months. The most economical explanation of the observations is that the full sun participated in a single large eruptive event during the available 8 month observing period from Skylab in 1973. The peak of this global event corresponds in time to the eruption of a major complex of activity. Moreover, it appears that the only portion of the solar surface which deviates from the above pattern of behavior is the low latitude region in the vicinity of the AR complex; this area shows a temporary depletion immediately following the AR outburst. The high-latitude regions in both hemispheres show the same variation and appear to lead the low-latitude emergence by approximately 1 month.