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Explain how Trade and Investment Liberalisation benefits individual economies? By Dylan Harapoff The liberalisation of trade and investment has increased greatly alongside the upsurge in globalisation due to financial and trade deregulation inturn bringing unprecedented benefits to individual economies. The removal of trade barriers such as tariffs, quotas and subsidies has caused a 16-fold increase in world trade since 1950. Consequently this has allowed for greater efficiency through specialisation, the expansion of markets for local producers, diffusion of technology and new ideas, greater consumer sovereignty and finally economic growth. Financial liberalisation on the other hand exists through foreign directory investment or portfolio flows which allows for higher labour productivity and income levels, an increase in the standard of living, technology transfer and the creating of new jobs and markets stimulating the exporting of capital and intermediate goods bringing benefits to both developing and developed countries. Critics of globalisation have placed much blame...

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