Globalization Thrust

Globalisation can be described as the combined influences of trade liberalisation, market integration, international finance and investment, technological change, the increasing distribution of production across national boundaries and the emergence of new structures of global governance. The global market place equipped with the application of global communications has become the focus of the global business arena that makes the world markets remain open and involved in the fair competitive practices. Supporters of globalisation concepts also argue that allowing free trade and capital movement would also favour workers to move from one country to another, partly to find better employment opportunities. New growth-trade theories have emphasised the contribution of international trade to economic growth through its effect on capital accumulation. Free trade leaders to specialisation, contributes to the total factor productivity and offers comparative advantages for the other countries. However, free trade generates neck-to-neck competition among countries for economic sustainability and to equip essentially for competing against the best trade in the world. This book delineates economic and political factors along with the technological perspectives thereof towards the export growth and competitiveness among developing countries and analyses trade competitiveness in view of the economic reforms and trade liberalisation.