LC: Globalization

The catchword “globalization” is in public discussion often used for the closed link between the national economies. Since beginning of 1990ies, “globalization” is also used for the general increase of economic interdependence which is caused by liberalization of trade in goods, services and capital markets and by improvement of worldwide transport-infrastructure and revolution in communication and information technologies, but no general definition exists. Important for globalization is the integration of capital markets and of trade of goods, which today is in an advanced stadium. Globalization started with colonization and the process went faster with invention and development of communication and transport. A normative background has been reached with the elimination of trade barriers, caused by GATT, and the creation of an international currency system in our times.
The victory of constitutional and democratic states and market economy have been catalysts of globalization process. 70% of world trade is between industrialized states. But policy in the époque of globalization also tries to fight against poverty and to find a global structure policy for active creation of globalization. The future will show if policy will fail or have success, but it is still today quite clear that therefore trade with developing countries will increase. So the share of developing countries in global merchandise exports and imports jumped by six and five percentage points in the years 1990 – 2001; exports from those countries reached 30% of all exports, imports reached 26% of the whole world imports; also the trade between developing countries increased by 12% a year, twice as fast as global commerce generally.

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