The Impact of Economic Globalization on IndiaPakistan Trade Relations

Abstract

Economic globalization born in the ashes of WWII with the establishment of Bretton wood Institutions i.e., the International Monetary Fund (IMF) and the World Bank. These sister organizations brilliantly laid down the foundation of global trade aimed to avoid the great depression which the world had met worse in the 1930s. The creation of the General Agreement on Tariff and Trade (GATT) in 1947 and later on the World Trade Organization (WTO) in 1995 made it essential, for nation-states, to participate actively in the global multilateral trading system. This research paper analyzes the impact of Economic Globalization on India-Pakistan trade relations. This paper is divided into two sections, first section analyses the historical evolution of economic globalization and its key characteristics and the second section describes the developments in India -Pakistan trade relations that occurred due to the global economic scenario.