Illustrate Globalization

Question

Elucidate the term Globalization?

Answer 1

The term Globalization means integration of various economies of the world leading to the emergence of cohesive global economy. The procedures that can be taken by the Government includes trade liberalization which are:-

a. Import liberalization.

b. Export Promotion though rationalization of tariff structure.

c. Foreign exchange liberalization.

d. Under the aegis (protection/support) of World Trade Organization increased the interaction among global economics.