Liberal and radical approach to globalisation
Answers
Radical approach to globalization refers to the opening up of business for foreign investors under strict government control. Government is active in all the decision making and planning.
Liberal approach to globalization refers to lesser government interference in the business activities of foreign investors. The rules are pretty simpler and government has no role in decision making.
Radical approach to globalization refers to integration and communication among states under strict governmental rules and regulations.
For example the opening up of business for foreign investors under strict government control.
In this type the government plays an extensive and active role in all the decision making and planning of businesses and trade.
kind of like a trade taking place in a planned economy.
They believe in import substitution to protect domestic industry, so they are not in support of globalization freely.
Liberal approach to globalization refers to there being less government interference in the business activities of foreign investors in the country.
There is free market economy trade. less tariffs and trade barriers.