liberalization is based on
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Liberalization or Liberalisation (British English) is the precondition for privatization and globalization. Liberalization is a broad term that usually refers to fewer government regulations and restrictions, mainly on economic activities. Liberalization is a change in the economic philosophy of a state.
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Liberalization, the loosening of government controls. Although sometimes associated with the relaxation of laws relating to social matters such as abortion and divorce, liberalization is most often used as an economic term. In particular, it refers to reductions in restrictions on international trade and capital.
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