Global economy means borderless economy?
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In informal language you can say that global economy is a borderless eco. It is so because global economy refers to
Free movement of goods and services across the world.
Most of the countries are the memebers of WTO.
Being a member of WTO it is to ensure free trade practices.
Free movement of goods and services across the world.
Most of the countries are the memebers of WTO.
Being a member of WTO it is to ensure free trade practices.
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2
Jack Ma, the founder of Chinese e-commerce giant Alibaba, has proposed a new business-led initiative for framing global e-commerce rules. Announcing it at the Boao Forum for Asia, he said: “Let businesses drive it with governments and NGOs and other organisations participating”. Mr. Ma’s proposed setting up what he calls the World e-Trade Platform (WeTP). The
WeTP is supposed to complement the World Trade Organisation which can remain in charge of global rules for offline trade. Alibaba will present this plan in the G-20 meet later this year in Hangzhou, China, where it is headquartered. In short, this means that those who run e-commerce businesses are proposing to draft the rules for e-commerce too, because in their view, they know best.
WeTP is supposed to complement the World Trade Organisation which can remain in charge of global rules for offline trade. Alibaba will present this plan in the G-20 meet later this year in Hangzhou, China, where it is headquartered. In short, this means that those who run e-commerce businesses are proposing to draft the rules for e-commerce too, because in their view, they know best.
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