Friday, August 19, 2011

What are tools to enhance globalization?

On the most general level, globalization is enhanced by removing barriers to trade in goods and services, including tariffs and other restrictions. This can be done by global organizations such as the WTO or regional agreements such as Mercosur or NAFTA. 


Global standards such as those promulgated by ISO can also facilitate trade, as it enables companies to produce uniform products on a large scale rather than having to create multiple versions tailored to individual national markets. Uniformity of regulations, which exists to some degree in the EU, also facilitates global trade. 


Ease of communication is also important. The use of English as an international language makes it easier for companies across the world to communicate with each other. The internet also makes international communications fast and cheap, meaning that communication ceases to act as a barrier to trade.

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