Trade liberalisation

Paper Rating: Word Count: 3038 Approx Pages: 12

Goods and services have been traded internationally for centuries. Historically, this trade has been controlled by governments, either through force or through import and export taxes (tariffs), subsidies and other regulations. But, whatever the method of intervention, the aim has always been to maintain favourable terms of trade for the country exercising these measures.

The support by government of national interests, through tariff and non-tariff measures, is known as "protectionism . The removal of such trade barriers, combined with improvements in international communication, technology and transportation, has led to increasingly interdependent economies in global basis.

And in the embryonic years of a new, and so crucial for the mankind, millennium, never before have so many countries at such different levels of development been involved towards a common socio-economic goal, such as the progressive removal of obstacles to international trade and investment, something most commonly known as "trade liberalisation . Nevertheless, somewhat paradoxically, at no time during the post-war period has the prospect of further liberalisation generated so much global public resistance and anxiety.

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