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Provide a 9 pages analysis while answering the following question: Does Globalization Truly Undermine National Sovereignty in Economic Policy-Making. Prepare this assignment according to the guideline
Provide a 9 pages analysis while answering the following question: Does Globalization Truly Undermine National Sovereignty in Economic Policy-Making. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. The socio-political changes have brought in changes to the level where the societies are no longer the same as the changes were so powerful that they changed the very fabric of the society as a whole. (Polanyi,2000).
What is, however, also important to understand is an argument which emphasizes the lack of governmental control due to globalization. It is believed that with the increased globalization, countries often face a loosening of control over the affairs of managing their own economies and as such many developing countries view globalization as a force that is intervening in their domestic affairs. The inability of the domestic institutions to effectively control the political and economic forces in the country, therefore, necessitates that the countries view this phenomenon as more against their own interests rather than viewing the globalization in its larger perspective. What is also critical is the assumption that with the globalization, the governments will lose the control over the policymaking and implementation rights and as such the resulting changes within the society will not only create economic hardships but would also bring in more social and cultural changes which would force the society’s own values and systems out of the proportion.
Before discussing whether globalization undermines the national sovereignty in economic policy or not, it is important that an attempt must be made to clearly define what globalization is and how it works.
It is truly difficult to define what globalization is and under what conditions it can provide desired benefits. Over a period of time, the discipline has evolved into a position where it has integrated many different disciplines and emerged as one of the most talked after the multi-disciplinary concept. As such the current state of the concept inculcates into it various theoretical approaches, different disciplines as well as theoretical foundations that are currently behind the emergence of the modern definition of globalization.
