What is

Описание к видео What is

The video defines liberalization, advantages, and disadvantages of liberalization, and an example to explain the concept better.

In recent decades, the world economy has experienced rapid growth, contributed, among other factors, by the further acceleration of international trade, the result of technological progress, and a concerted effort to reduce trade barriers. Integration into the world economy is valuable for promoting economic growth, development, and poverty alleviation nationally. In the last two decades, world trade averaged 6% per year. Read on to understand what is liberalization and what are the benefits and drawbacks of liberalization.

What is #Liberalization?
Trade liberalization processes refer to reductions in restrictions or barriers to encourage the free exchange of goods and services. This implies eliminating or drastically reducing the level of tariffs that a sector supports and in measures of a new tariff nature, such as obtaining licenses, eliminating quotas, or other requirements.

Consumers can choose the least efficient option according to their criteria in a market where many operators are integrated. This process leads to the best business options making profits and the worst losses consuming their capital. If they do not restructure their activity to make it competitive, they go bankrupt and are expelled from the market.

Liberalization creates new opportunities. Before the liberalization process, these resources were allocated to an expensive and inefficient sector. By liberalizing a sector, consumers obtain savings due to lower prices, which can either be used for the acquisition of consumer goods or for savings and the creation of capital goods, which drives new business areas.
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