Globalization and Free Trade

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As cost of transportation and communication becomes reduced, corporations are no-longer constricted by borders. Innovation of technology has created a worldwide web making distance and geography no longer relevant for economic purposes. In today’s world, when conditions are right, it is just as easy to do business with someone across the globe as it is with someone across your street. Globalization has opened the doors to economic freedom, and economic freedom became the trigger for international free trade and overall economic expansion. It allows for personal choices and prosperity. On a day to day basis, consumers are no longer limited to local products, they have the choice to choose from a myriad of brands and selections imported from all over the world. Change of seasons no longer means change of fruits and vegetables on grocery racks, in fact, unless you are shopping in a farmer’s market, it is nearly impossible to find locally-grown fruits or vegetables in most modern developed countries. Now livestock, perishable goods, live lobsters, and even ice-cream are sent across borders and imported by countries such as Canada. On a global scale, economic freedom is even more apparent. In the 21st century, companies are competing on an international scale and therefore, the bars are raised and capitalism has ascended to being a world-wide economic system.

Globalization has created an international phenomenon of free trade in the economy. In the late 1900’s, organizations became established to supervise and liberalize international trade, these organizations include NAFTA and World Trade Organization. NAFTA is the major organization that overlooks the vast region of North America (Mexico, United States of America, and Canada). Fr...

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...0 words, over a thousand years."Home : Oxford English Dictionary. N.p., n.d. Web. 17 Feb. 2014. .

Morello, Carol. "Census: Middle class shrinks to an all-time low." Washington Post. The Washington Post, 19 Sept. 2012. Web. 17 Feb. 2014. .

"Which middle class, which squeeze?."Financial Times. N.p., n.d. Web. 17 Feb. 2014. .

"Insights & Publications." Mapping China's middle class. N.p., n.d. Web. 14 Feb. 2014.

http://www.ey.com/GL/en/Issues/Driving-growth/Middle-class-growth-in-emerging-markets---China-and-India-tomorrow-s-middle-classes

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