Globalisation as Liberalisation

In this context, the term “globalisation” refers to the process of reducing official limits on resource transfers between nations in order to foster an “open” and “borderless” global economy.

According to this interpretation, globalisation happens as government regulatory measures including trade barriers, foreign exchange controls, capital controls, and visa requirements are reduced or eliminated.

In the past 25 years, globalisation and widespread economic liberalisation have existed concurrently.

Furthermore, this wave of neoliberalism has frequently contributed significantly (though not always) to modern globalisation.

To combine the two ideas such that globalisation and liberalisation are one and the same thing, however, is quite another thing.

A further questionable - and even damaging - conclusion of such an equation is that neoliberalism is the only available political system for an increasingly interconnected globe.

The idea of globalisation was not necessary to explain earlier experiences of greater international connection and interdependence, proving this approach to be redundant in the current times.