The first claim of market globalism tackles the liberalization and integration of different markets into a unified global market

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The first claim of market globalism tackles the liberalization and integration of different markets into a unified global market. Although it has unclear definition in economic literature, one form of economic integration is simply the presence of trade relations between national economies. On a larger scale, global economic integration implies a worldwide and open relation of nations to other nations around the globe (Balassa, 1991). In order for this to work, international policies will have to be established to maintain a harmonious and safe trade relations between the countries and economies involved. Market integration offers advantages to the participating economies such as the creation of trade, ease of achieving consensus, political cooperation and opportunities for employment. Through integration, member countries will acquire a wider selection of goods and services that were not available previously. This opens a chance for obtaining these products and services at a lower cost because the trade barriers are mitigated such as by lowering taxes imposed on these global goods.

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