The Global Village is Breaking Up

GDJASUJA

The liberalization, privatization and globalization (LPG), as we know today, was the brainchild of some of the most developed countries aimed at tremendously enhancing their market reach. The advancements in technology as a result of extensive research and development helped them to invent novel new products and services that could have huge potential globally. So, the idea of free market was floated in a way that would sound as a path towards prosperity for most countries around the world – a win-win for all. The market restrictions prevented them to scale up their businesses beyond their borders but slowly, other countries started easing up in the hope of selling their own products also to the developed world at lucrative prices.