The GATT and WTO have set the guidelines that have increased the rate of economic globalization .
While economic globalization has been occurring for the last several hundred years ( since the emergence of trans-national trade ) , it has begun to occur at an increased rate over the last 20ï¿½30 years under the framework of General Agreement on Tariffs and Trade and World Trade Organization which made countries to gradually cut down trade barriers and open up their current accounts and capital accounts .
Economic globalization