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Global trade relationships should offer strength and growth to all parties

18 0 1
07.04.2021

Less than a decade ago many economic players pronounced the triumph of global marketing. Governments encouraged market-based decision rules of economic games. Those who invoked benefits of government planning and state monopolies rapidly encountered substantial public doubt. Ten years is a long time for firms and their customers. Conditions have changed.

Back then, competitive market conditions held preference. Nations that had turned away from mandated economies found rewards in very strong growth rates. There were sharp expectations for growing political freedom, greater increases in life expectancy, higher literacy rates, and a better overall standard of living.

Firms encountered substantial benefits from globalization. They found a wider market reach, more customers, and higher productivity. International firms outperformed their........

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