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The word globalization is used to "describe the changes in societies and the world economy that are the result of dramatically increased trade and cultural exchange" (Wikipedia, 2005). In economic contexts, it refers almost exclusively to the effects of trade and particularly to "free trade". Since the travels of Marco Polo seven centuries ago, global economic integration, through trade, factor movements, and communication of economically useful knowledge and technology, has been on a generally rising trend (Mussa, 2000). During the past half century, the pace of economic globalization has been particularly rapid...
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