Delbruck defines globalisation as the process by which nations loose the central role on controlling politics, markets and laws for the sake of common good. He believes that the process of globalisation is clearly distinct from internationalisation where the latter term refers to a type of cooperation between nations that is done in order to fulfil needs that cannot be met be sovereign countries. He argues that the main difference between globalisation and internationalisation is that in the latter sovereignty of states is maintained while in the former sovereignty is lost.
Gilpin argues that the process of globalisation is characterised by the interaction of economic and political issues between sovereign states. However, this [process of globalisation has been intensified because of the introduction of technology, better communication and better modes of travel between these countries. Liberal economists believe that globalisation assists in the process of building peace in the world. It encourages economic growth and also institutes order in the international arena.
Kennedy also adds that the process of globalisation has shown how states no longer take up the central role in their individual economic process. This argument can be verified by the existence of a global economy. The forces affecting the global economy have very little to do with what is prevalent in specific countries. Additionally, the rate of flow on capital from the international arena into and out of specific countries also indicates how nations are loosing their central role. Because of globalisation in the business sector, politics in individual countries has to change to accommodate this new phenomenon. ...Show more