Fisheries Economics

8.1.6 Globalisation

It refers to the widespread economic activities across countries such that nations become naturally dependent upon each other increasingly. In the long run rapid movement of goods and services globally makes the national borders irrelevant in a way and this is called progressive de-territorilization.

Driving Forces behind Globalisation

Globalisation means increased opening up national markets to do away with protectionist measures. Trade restrictions that are seen now as stumbling blocks to free trade will have to be removed totally. Distance becomes obsolete with modern telecommunications and transport. All state-owned companies will have to be privatized so that everything becomes a capitalist property. As capital is a constraint to many nations in the south, liberalization of the international flow of capital will need to be ensured to achieve globalization