Question

What is the difference between globalization and liberalization

Answer 1

Globalization is the greater integration among countries and economies for trade, economic, social, and political benefits. Globalization in trade is also called ‘one global market place’ where a consumer does not have to restrict their purchases to one country/economy and can enjoy the benefits of the goods and services produced worldwide. Liberalization, though similar to globalization, is more focused on the local economy. Liberalization generally refers to the removal of restrictions; usually government rules and regulations imposed on social, economic, or political matters. Liberalization maybe trade, social, economic, or capital market related. Social liberalization, for example, maybe related to things like making abortion related laws less stringent. Trade liberalization maybe with regard to reducing restrictions on imports or exports and facilitating free trade. 

Answer 2

Difference between globalization and liberalization

Explanation:

• Globalization is defined as the medium or a process due to which in result the business or company would develop international influence or start to acquire greater position in international scale.  
• Globalization is divided into three categories, such as political globalization, social globalization, and the economic globalization.
• Liberalization is defined as a process in which any particular state does lifts the restriction on some of the private individual activities.
• For example, economic liberalization means the "removal of economic" restriction.

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