The current review paper aims to highlight the impact of free trade and trade liberalization on the development of the world economy. | Free trade a comprehensive strategy in a globalized world International Journal of Management Volume 11 Issue 04 April 2020 pp. 255-261. Article ID IJM_11_04_026 Available online at http ijm JType IJM amp VType 11 amp IType 4 Journal Impact Factor 2020 Calculated by GISI ISSN Print 0976-6502 and ISSN Online 0976-6510 IAEME Publication Scopus Indexed FREE TRADE A COMPREHENSIVE STRATEGY IN A GLOBALIZED WORLD Rammohan Sundaram Business Administration Department Westcliff University Irvine California USA Dr. Moe Saouli Business Administration Department Westcliff University Irvine California USA Dr. Jinan Ziade Business Administration Department Westcliff University Irvine California USA ABSTRACT In today s scenario of the global economy no country can be hailed as self-sufficient vis-a-vis the flow of information and goods. Each and every country is engaged in trade by selling its products obtaining what it lacks and manufacturing more precisely in certain sectors than its 9rivals. This has emerged the need for scholars and researchers to comprehend the concepts of globalization free trade trade liberalism trade protectionism trade barriers and international trade. However the literature regarding the benefits of free trade trade liberalism globalization and the demerits of inward-looking economies is still evolving. Thus the current review paper aims to highlight the impact of free trade and trade liberalization on the development of the world economy. Moreover it aims to assess the effect of globalization on international trade practices and analyze the impacts of trade barriers and trade protectionism on world economies. The current study eventually believes that it is difficult for the inward- looking economies to sustain in the long run thus the economies must adopt free trade practices and globalization to be successful in the competitive world. Keywords Globalization Free trade trade barriers economic growth .
