As a result of globalization, nations could improve their political as well technological relations globally. This paper will analyze globalization and its impacts on international relations.
The concept of global economy came into existence with the emergence of globalization. This process notably assisted different segments of the international market. Globalization has significantly contributed to the creation of a global market and a global system of production. Capital marketers also enjoy the benefits of globalization as it has contributed to the integration of financial systems. This concept aided financial organizations like International Monetary Fund to disseminate “a particular view of the state’s role within the international economy” (Robinson, 2006). In addition, globalization enhanced the development of telecommunications media which in turn fastened the spread of global mass culture. And the key production factors such as capital and labor became globally mobile.
Globalization eliminated international trade barriers and thus promoted international relations once this concept weakened the ability of nations to control transnational operations and economic activities. Companies transplanted their production facilities to other countries where costs are comparatively lower. Before the emergence of globalization, developing and underdeveloped countries had little access to developed markets and improved technology. However, since globalization, the global economic environment has undergone tremendous changes. According to Devetak and Hughes (2008, p. 34), globalization connects nations through a global network, and it assists a nation to get access to foreign markets and customers.
Since the nations got ranges of benefits from globalization, governments adopted a liberal approach towards international trade.
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