4.1.3

• what is globalisation?


  the trend towards closer economics, politics and cultrual ties between countries
• what are the factors contributing towards increased globalisation?


  reduction of internationl trade barriers

  political change

  reduced cost of transport

  increased significance of global companies

  increased FDI

  migration

  structrual change
• what is trade liberalisation?


  refers to the process of reducing restirctions on various aspects of the economy
• how is trade liberalisaed?


  when governments remove international trade barriers:

  tariffs

  quotas

  non-tariff barriers