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Globalization and Liberalization are concepts closely related to one another. Explain.

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  1. Both globalization and liberalization refer to relaxing social and economic policies which results in better integration with an economy and between nations.
  2. Both occur as a result of modernization.
  3. Globalization is the greater integration among countries and economies for trade-economic social and political benefits.
  4. Liberalization generally refers to the removal of restrictions, usually Government rules and regulations imposed on socio, economic or political matters.

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