Globalization is a phenomenon which is applicable worldwide as the name itself states- its ‘global’, therefore it has been attributed various connotations, both negative and positive; those who believe in economic unity and integration beyond the geographically demarcated…
uses on the link between the concept of globalization and the nation-state; more specifically it tends to answer a major question of whether the role of the Government becomes increasingly important or otherwise in an era of globalization. Initially the term globalization would be defined with regards to the intricate meaning attached to it along with the critiques of it being negative or positive and the factors which contribute to increasing this phenomenon, then the paper proceeds to incorporate the impact of globalization on the state, furthermore this study would explore the methods which are available to redesign the role of the state in order to overcome the challenges launched by globalization on the cohesiveness of the state (Bertucci and Alberti, 2003, Page 1-26). All these sub topics are cardinal to the study of globalization; therefore each would be elaborated in detail along with examples from different parts of the world.
In literal terminology, Globalization or Globalisation pertains to the description of a process as a result of which the economies, the societies and cultures of nations throughout the world have been integrated into a web of interdependencies, due to the overarching power of the technological progress in areas of communication, transport and trade. It is often used only to describe the specific concept of ‘economic globalization’ which relates to the involvement of national economies into the international arena, through the tools of trade, FDI (foreign direct investment), capital inflows and outflows, net migration, and the massive spread of technology (Invest Words, 2010). Globalization has its pros and disadvantages; it presents various opportunities to people to benefit from while at the same time it has certain costs associated with it, thus reflecting both aspects of the concept.
The major attribute of globalization is the increased level of interdependence between nations across the globe. The determinants at work which ...
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