low-cost

– free trade: companies are allowed to sell wherever they sense a profitable opportunity;

– the tech revolution: production may take place anywhere, whereas selling may be done thousands of miles from the point of production;

– open communications: without a reasonably modern infrastructure – including telecoms, ports, airports etc – the network effects known as globalisation will not pay off;

– protection of intellectual property rights: platform companies like IKEA, Wal-Mart or Dell would be worthless without this provision;