Global Market Liberalisation : Globalization

1117 Words Dec 1st, 2014 5 Pages
Global Market Liberalization

The word globalization can be defined in many ways. It involves a change in economic status, political status, economy, and international intervening, including trade. Global trade has been on the increase and has expanded over time. Trade helps in decreasing poverty levels and providing others with what they need. The growth of world trade has averaged 6 percent per year, over the past 20 years. That is twice as fast as the output in the world.
The definition of globalization includes the process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture. Transportation and telecommunications are major factors in globalization, generating further interdependence of economic and cultural activities.
The benefits of global market liberalization in recent country decades has not achieved economic success, this is in terms of living standards for its people, without being involved and open with the rest of the world. Gain is to be had by eliminating remaining trade barriers. By eliminating all barriers to merchandise the potential gain range is $250 Billion to $680 billion a year.
The globalization of liberalization is one of the most important developments, including the spread of liberal economic ideas and policies throughout the world. Political policy models do no adequately capture influences on the choice of policies. Policy transitions are influenced by international…
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