Question

What is liberalisation? Describe the role of WTO in liberalisation​

Answer 1

Liberalisation means the opening of the country for foreign investments and capitals. Trade barriers are often used  by countries to protect the domestic industries from the products of foreign land. usually countries resort to impose Licenses, Import quotas or Voluntary export restraints to protect local markets. However after liberalization organizations like the WTO attempted to reduce production and consumption distortions created by tariffs. Free trade benefits consumers through increased choice and reduced prices. On the other hand free flow capital ensures that any country can make investments in the alien land.

Impacts:

Increase in the foreign trade

Increase in foreign investment

Exchange of technology between countries

Better means of communication have developed alongside globalisation.


Best Regards

$<marquee behavior=slide bgcolor=pink> <h1> Follow me ❤</h1></marquee>$
​

Answer 2

Answer:-

Liberalisation is a process of applying restrictions on something,here, the government have applied restrictions on trade which we also call trade barriers

The role that World Trade Organisation ( WTO ) play is that,

There is less liberalisation or no liberalisation on the trade (/ exports of goods which leads to globalization)