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.