QUESTION ONE: ECONOMIC GLOBALIZATION Have a general understanding of the forces at work in economic globalization Neoliberalism is a policy paradigm that combines politics and economics to transfer economic power from the government to the private sector. Most neoliberal policies seek to strengthen free-market capitalism by limiting public expenditure, taxation, and public ownership. What are the elements of neoliberal policy? Neoliberalism is generally associated with policies of economic liberalization that dismantle boundaries and walls between nations. Some neoliberal policies include privatization, deregulation, globalization, free trade, austerity, and government spending reduction. What are the positive effects of economic globalization? Economic globalization is key for most economies as it gives world economies a wider market. Globalization has given countries, and businesses access