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Q.

Globalisation so far has been more in favour of ____.


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Detailed Solution

Globalisation so far has been more in favour of developed countries. The World Trade Organisation (WTO) aims to liberalise trade among nations. It sets rules for international trade and works for the open and non-discriminatory exchange of goods and services among nations without any trade barriers. But, most developed countries do not follow these rules strictly and still use trade barriers. It is unfair for the developing economies as they can not put trade barriers because of the guidelines of WTO, and their domestic producers suffer due to this competition.
 
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