Economic Globalization Questions
International trade agreements play a crucial role in economic globalization by promoting and facilitating the exchange of goods, services, and investments between countries. These agreements establish rules and regulations that govern trade activities, reduce trade barriers such as tariffs and quotas, and provide a framework for resolving trade disputes. By promoting free trade and open markets, international trade agreements encourage economic integration and cooperation among nations, leading to increased economic interdependence and globalization. These agreements also help to create a more predictable and stable business environment, attract foreign direct investment, and stimulate economic growth and development.