Countries as diverse as Chile, Hungary, Turkey, and South Korea have liberalized their previously protected markets, lowering trade barriers and subjecting themselves to greater competition from abroad.

Question

Quizplus · Accepted Answer

These countries have indeed undertaken economic reforms over the years to open up their markets by reducing trade barriers, which has increased their exposure to international competition. This is part of broader economic liberalization and globalization efforts.

Countries as Diverse as Chile, Hungary, Turkey, and South Korea