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World Globalisation

GLOBALISATION ESSAY
Globalisation refers to the economic integration between Countries leading to the emergence of a single world market, characterised by a shift from National to World economy with free movement of goods, services, financial capital, skills, ideas and people across geographic and political borders.

International bodies such as WTO and IMF and Regional trading blocs such as NAFTA and APEC have helped free up world trade by reducing trade barriers (tariffs/subsidies) and by deregulation of world financial markets, and now these groups seeks to further develop the world through reducing poverty across the world.

International organisations such as the WTO, the IMF, the World Bank have become increasingly important to the growth of globalsation as they provided rules for trade and investment decisions.

WTO began in 1995 and replacing GATT and is the most important multilateral trade treaty governing rules of world trade, settling trade disputes between Nations...

Posted by: Darren McCutchen

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