Globalization is the process of increased integration and increased international influence on all aspects of life and economic activity. Globalization has been featured by increased trade flows, investment, technology, finance, and internationalization of labor and also the global influences of economic policies. One of the economies influenced by forces of globalization is Ireland, with growth rates in the 90's comparable to the fast growing Asian economies.

Globalization has increased the level of trade flows. Since 1983, trade flows has increased from more then three trillion to more then eleven trillion in 1999. This has grown sixteen times since 1950's as compared to six times growth in gross world product. This has been due to specialization, promotion of free trade by international organization (WTO, IMF) and free trade agreements (NAFTA, EU, APEC).

The increased levels of free trade agreements since 1980's has been a result of increased levels of trade liberalization...