Liberalization and deregulation stimulated the epic run of three major areas of business −
● International trade grew at an average rate of 6% annually between 1948 and 1997.
● FDI was impacted too, which saw the stocks and inflows exceed the rise in world trade.
● Foreign exchange markets achieved an average daily turnover reaching trillions of dollars.
Liberalization and deregulation contributed heavily to the globalization of the world economy.
