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{
    "id": 933541,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/933541/?format=api",
    "text_counter": 331,
    "type": "speech",
    "speaker_name": "Sen. Poghisio",
    "speaker_title": "",
    "speaker": {
        "id": 202,
        "legal_name": "Samuel Losuron Poghisio",
        "slug": "samuel-poghisio"
    },
    "content": "(iv) Allows goods, services and people to flow seamlessly across borders to reduce costs and lower prices, and helps firms become competitive enough to link to the value chains; and, (v) Trade creation as trade agreements promote free trade. The Committee, in their discussions, reviewed some of the measures the individual Member States have taken to implement REI. There was a presentation on research findings on the effects of globalization on the Member States of the ICGLR. The Committee discussed the effects of Globalization on Member States of the ICGLR as follows- (i) To increase the level of global economic integration of their economies by increasing international trade and FDI flows. For example, the level of investment and economic growth in respective countries and the region; (ii) Political pressures that global firms bring to bear on Regional Economic Communities (RECs) to lower barriers on intra-regional activity; (iii) Crony capitalism; (iv) Economic changes of the 20th Century that have led to a shift in industrialized countries from manufacturing to services and innovative technologies; (v) REC Governments will pool their policies to re-assert their sovereignty to gain or re-gain policy autonomy vis-à-vis global market; (vi) Regionalization in the face of globalization can enhance the Member States’ policy stability and credibility only if Member States can know how to address globalization’s adverse effects; (vii) In a world where goods of all kinds appear to move more effortlessly across borders, regionalism must address the social dimension of markets and the environmental dangers of unregulated competition; and (viii) In practice, globalization and regionalization tend to be mutually reinforcing especially in so far as regionalization stimulates internal competition brought about by globalization."
}