![]() ![]() Money, products, materials, information and people flow more swiftly across national boundaries today than ever. They enable businesses to access lower priced raw materials and parts, take advantage of lower cost labor markets and access larger and growing markets around the world in which to sell their goods and services. Policies that promote free trade, open borders and international cooperation all drive economic globalization. ![]() ![]() ![]() If all countries are specializing in what they do best, production should be more efficient worldwide, prices should be lower, economic growth widespread and all countries should benefit - in theory. This generally means what they can produce and provide most efficiently, with the least amount of resources, at a lower cost than competing nations. In a globalized economy, countries specialize in the products and services they have a competitive advantage in.
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