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The current Global Economic Crisis and Globalization - Essay Example

Generally, as connection between economies is strengthened, the consequences are always an increased competition, but also increased opportunity (Faundez 2010, p. 226-29). Globalization and the US Politics An analysis of contemporary and historical patterns of the imperial structures, US political preference, and globalization in the era of Post-World War II has been conducted. From this analysis, it was established that the present-day globalization is rooted in some orchestrated political developments in US. It is also seen as progressing along the dimensions and stages linked by not many pivotal turning points. This present-day globalization results in a situation where the US auspices dictate the global order that is increasingly dominating the inter-state system. In this error of totalizing globalization, the US Empire and globalization have very substantial overlap. The global structures seen in the later day must be primarily because of more or less fortuitous political engineering by councils of American political preferences, whose aim is to harness, shape, and reconstitute the international order. all these are done to favor and benefit the America’s neo-imperial purposes. ...
decline in national governments Ritzer (2011, p 99) argues that delocalization has not only affected the individuals but it has also affected the neighborhood institutions. Delocalization has led to many adverse effects among which, is the reduction of the authority of the national governments to control and have an influence on their economies, in this case, the macroeconomic management. When the economic activity shifts, for instance In United States or Japan, their effects are felt all over the world. When the technological, services, and manufacturing financial markets are internationalized, the consequences of this move will be an impaired freedom with which the nation states can act. Furthermore, with the rise of such international institutions as the European Central Bank, the European Union, and the World Bank, new imperatives, and constraints have arose (Ritzer, 2011). Consequently, although the influence brought by the nation states has been shrinking because of the globalization process, it has not vanished. Instead, the input of these national states is still pivotal especially when it comes to the creation of the conditions that lead to appropriate international governance. The important thing however is the examination of the manner in which the national states frame their ideologies concerning policy. In this case, there is a powerful claim that the influence of globalization is largely controlled by the degree to which the politics have become market-driven everywhere. The point is that the governments are no longer in the position of managing their national economies. What is only expected from the governments is that they must be more involved in managing the national politics in such a manner, which make their governments withstand the pressures ...Show more
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The current global economic crisis and globalization Name: Institution: Globalization According to Faundez (2010, p. 28), globalization is defined as the process through which the interdependence and connectivity of the world’s businesses and markets is increased…
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