The Global Economy

Forces Surrounding Global System of Production

• 2. National governments- through their industrial, trade and foreign policies especially liberalization policies
• Liberalization refers to the way in which policies facilitate transactions (trade and sales) of a variety of products and services
• Deregulation refers to the easing of taxation, entry and pricing of products or services dictated by government policy
• Privatization refers to the ownership of former public sector operations and firms by private corporations and enterprises