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Globalization1

Globalization is "the integration of states through increasing contact, communication and trade to create a holistic, single global system in which the process of change increasingly binds people together in a common fate. " Some economists recognize globalization as being in the best interest of all states, while others believe that increasingly liberated trade and global economic interaction is detrimental in many ways. While globalization marks a move toward a more open world-trading regime, it can also be linked to strains on sovereignty, worker's rights, and the environment. Thus, issues of globalization and free trade are surrounded by heated debate and controversy. Contemporary problems with free trade are rooted mainly in the General Agreement on Tariffs and Trade, which was established in 1947. The General Agreement on Tariffs and Trade, commonly known as the GATT, instituted guidelines for international trade. These rules and regulations included establishing normal trade relations with all states, restricting non-tariff barriers to trade, restricting unreasonable technical limitations on imports, lower tariffs, and eliminating subsidies and dumping. Over time, the nations affiliated with the GATT began resembling a regime; however, there were still various issues that the agreement did not address. For example, guidelines for the trade of agriculture, textiles, intellectual and cultural property, and services were not included in the GATT. This lack of regulation created problems in international trade. Thus, after almost forty years, members of the GATT met to resolve the resulting problems. Finally, in 1994, the states came to an agreement in every area except textiles. Textiles are a very problematic area. If there were to be free trade in textiles, many manufa...

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