Globalised markets and production patterns offer favourable opportunities to raise world income. Yet globalisation also … prepared to meet the challenge of fiercer competition on world goods and factor markets. In industrialised countries, low … countries could have raised their share in world welfare gains if they had committed themselves more strongly to binding trade …

heterogeneity in the degree of globalization over time and across countries and regions of the World, as well as within countries …The process of globalization is an international economic order which has led to the progressive integration of the … world economy through the pulling the barrier of trade and greater mobility of factors of production. In addition the …