The interests of the developed countries have not only remained protected, but have further explored. The level of competition has never distracted the economic and trade activities of the developed countries, much because the level of competition among the developed countries is diluted. Dell (2001) has concluded that the globalization has however resulted in the era of greater interdependence of the economies due to the provisions of the free trade and relaxed taxation policy, therefore the pace of political and economic convergence increased dramatically over the past few decades as states appear increasingly similar in terms of their political structures and economic functions.
In the view of the above listed facts, the US Presidential candidates Republican John McCain and Democrat Obama have emerged in the field in quest for the presidential throne. Roger (2008) has supported Obama’s stand, the presidential nominee has adopted liberal economic policies with non-specific mentioned of taxation policies. Roger (2008) reported that the Democrat candidate, globalization of economy has weakened the states, control over their societies; thus, globalization promotes civil liberties and, eventually, democracy, through socioeconomic development, and this caused has resulted in the independence of the United states, therefore the globalization commenced soon after the independence of the United states, the integration of national economies into the global market place has served as a catalyst to the states political liberalization
Republican Senator McCain has warned that the globalization has certain limitations; however the extent of those has diminished with the passage of time. Tom (2008) reported that the convergence on the economic and trade agenda has motivated the United States to develop mutual and cordial understanding with the developing countries, and such collaboration has