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    Has Globalization Gone Too Far

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    Angela
    The document argues that globalization has not gone too far or in the wrong direction, but rather it has not gone far enough. Only parts of economies involving trade have faced international competition due to trade liberalization. For globalization to fully deliver on its promises, competition needs to be extended to non-tradable sectors as well, which would lead to more competitive growth and larger gains from world trade. The mixed outcomes of globalization do not mean lowering trade barriers is flawed, but that globalization has simply not been fully realized around the world.

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    Has Globalization Gone Too Far

    Uploaded by

    Angela
    24 views1 page
    The document argues that globalization has not gone too far or in the wrong direction, but rather it has not gone far enough. Only parts of economies involving trade have faced international competition due to trade liberalization. For globalization to fully deliver on its promises, competition needs to be extended to non-tradable sectors as well, which would lead to more competitive growth and larger gains from world trade. The mixed outcomes of globalization do not mean lowering trade barriers is flawed, but that globalization has simply not been fully realized around the world.

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    The document argues that globalization has not gone too far or in the wrong direction, but rather it has not gone far enough. Only parts of economies involving trade have faced international competition due to trade liberalization. For globalization to fully deliver on its promises, competition needs to be extended to non-tradable sectors as well, which would lead to more competitive growth and larger gains from world trade. The mixed outcomes of globalization do not mean lowering trade barriers is flawed, but that globalization has simply not been fully realized around the world.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    24 views1 page

    Has Globalization Gone Too Far

    Uploaded by

    Angela
    The document argues that globalization has not gone too far or in the wrong direction, but rather it has not gone far enough. Only parts of economies involving trade have faced international competition due to trade liberalization. For globalization to fully deliver on its promises, competition needs to be extended to non-tradable sectors as well, which would lead to more competitive growth and larger gains from world trade. The mixed outcomes of globalization do not mean lowering trade barriers is flawed, but that globalization has simply not been fully realized around the world.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Has globalization gone too far, not far enough, or has it been heading in the wrong direction?

    The problem with globalization is not that it has gone too far; it’s that it hasn’t gone far
    enough. For a reason that, only tradable parts of the economy have been subject to international
    competition, trade liberalization has not fully delivered on its promise. If this competition can be
    extended to non-tradable sectors, we will see growing and competitive competition and larger
    gains from world trade.

    To sum it all up, the mixed record of globalization in emerging countries and regions
    does not imply that lowering trade barriers is inherently flawed. Globalization around the world
    has not gone far enough, rather than going too far.

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