Countries like India and Brazil have also been able to invite world attention, as huge investment possibility exists in these poor countries as well. Unlike earlier times, when the military might was the only yardstick to measure the strength of a country, today the economic strength holds key. Strategic tie-ups take place amongst countries depending upon the economic leverages being held by each country.
The classical liberalism limited the role of governments to maintaining social order, enforcing law and defending the country against foreign aggressions. This kind of liberalism hinged on individualism, with respective countries making best efforts to safeguard their own interests. But, over the years this philosophy has widened to a great extent. The neo-liberalism not only includes the individualistic or country specific aspects, but it also includes regional interest as well as global interests. For example, the recession hit economies of US and the European nations is a matter of concern for almost all countries around the world, because a weak US economy, weaker dollar, weaker Euro would imply all round losses to many countries around the world. On the other side, the neo-liberalism promotes institutions like world bank or IMF, which provide easier loans and financial assistance to nations in need of such assistance.
It is true that in the market driven economy, the ‘interest’ of states lies well beyond the boundaries of the state. But, the ‘national interest’ proves crucial for shaping policies, retaining power and winning the confidence of corporate world. Therefore, the ‘national interest’ is indeed a very useful concept in understanding the actions of states. For the sake of argument it can also be said that in today’s materialistic world, number of political people have become more of self-serving nature, but it is equally true that they too realise the importance of ‘national interest’. If the national interest goes, their own