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. ...Show more