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Globalization and Economic Policy - Essay Example
Dell (2001) has mentioned that the integration of the national economies and the wave of globalization have nullified the concerns and restrictions which previously halted the trade and economic relationship between the countries. The globalization has provided the countries with an opportunity to develop trade linkages in swift manner, and such possibility has offered better opportunity to the developed countries, and has facilitated their needs and utilities…
The level of competition has never distracted the economic and trade activities of the developed countries, much because the level of competition among the developed countries is diluted. Dell (2001) has concluded that the globalization has however resulted in the era of greater interdependence of the economies due to the provisions of the free trade and relaxed taxation policy, therefore 'the pace of political and economic convergence increased dramatically over the past few decades as states appear increasingly similar in terms of their political structures and economic functions'.
In the view of the above listed facts, the US Presidential candidates Republican John McCain and Democrat Obama have emerged in the field in quest for the presidential throne. Roger (2008) has supported Obama's stand, the presidential nominee has adopted liberal economic policies with non-specific mentioned of taxation policies. ...