Free trade is a policy that waives all barriers to imports and exports between a bloc of nations. Free trade is typically a liberal economic position, though it is known as a conservative position in the United States. Left-wing and far-right nationalist parties tend to promote protectionism, which is considered the opposite of free trade. …
What Is Inflation? Inflation occurs when the price of goods increases at a sustained rate, and the purchasing power of money decreases. Inflation itself isn’t always a negative. In fact, having low levels of inflation can have a positive impact on the economy. It’s when it hits extremes that it becomes a major problem. As …
Tourism forms the backbone of many an economy; in fact, it is one of the largest industries in the world with an annual turnover exceeding 1.75 trillion USD, thereby putting it on par with Oil and other industries. Inbound tourism helps to boost the economy of the host country as it offers several employment opportunities …
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Today, most of the world’s economies are inextricably interlinked with each other, what affects one soon starts a cascading effect on all the world’s economies. In a sense, that’s good as interlinked economies can help promote trade and even result in free trade agreements without the requisite trade tariffs being levied on select products and …
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The Impact of Globalization Globalization can be defined as the integration of the world economies. The developments in the field of technology, communication, and transportation have led to the globalization. It has also helped in increasing the interaction with the people all over the world. We can also travel across the world without any restrictions …