Submitted By forgot
We live in a world that is changing faster than ever. As developing countries begin to play an important role in the world economy, the global markets are becoming more integrated than ever before. Products that are made in a different continent can be available in other countries within days. Important developments and the integration of countries as trade partners have greatly influenced the progress of the world markets and provided economic benefits to countries that were missing this profitable opportunity. Hyperglobalist perspective of globalization is certainly the approach that privileges the world economies.
Currently, the world economies are being benefitted by the disappearance of trade borders. The world as we knew it is not the same. Dependence on other countries products or services is more relevant than ever before. With new technological developments and faster modes of transportation, communication and distances between countries have been reduced significantly. They can move their products faster and efficiently. Countries that did not have any important interest or participation in the markets are now being rewarded by concentrating their resources particularly on what they best produce, giving them a comparative advantage in the global economy. This is one of the benefits found in this new structure of the world economy. Even though some countries are worse off and affected by this type of trade, nearly all countries have a comparative advantage in producing goods that can be exploited for a greater benefit. And by applying this regulation, countries can maximize their gains from trade and reduce their losses in the global market.
Global markets that once were controlled and restricted directly by government policies are becoming less tied through the formation of networks of production, trade and international businesses. Development and…...