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Globalization And The Nation State

Globalization – Struggles of the Nation-State and Issues of Equality

Economic growth in globalization is often due to rapid technological advancements and changes in the gathering of information and communications. Globalization has always existed but today's globalization has been a much more rapid and intense process than in the past. The question here is whether today's globalization weakens the nation state and whether or not it undermines national control over the economy. We are trying to determine whether or not globalization leads to a greater social and economic inequality in society. We will begin by discussing how the globalization of economy has played the largest role in changing today's world. Following the economical evolution, social changes have become increasingly important due to the increased awareness of cultural, ethical and social issues across the globe.
Due to globalization, the world's economy has become more and more interlinked and nations across the globe have benefited from the increased interactions between them. Organizations have sprung up across the world in order to help regulate and control the drastic economic and social changes occurring in societies. Economically many countries have reaped the benefits of globalization, developed countries have greater markets in which to trade goods and developing countries are benefited by the sharing of goods and services through multinational corporations. However, many believe that this "neoliberal economic theory" makes it difficult for developing third world countries to advance economically after having reached a certain limit set by developed countries. They are not able to invest in industries which would subsequently lead to long-term growth. Instead, third world countries are given the contracts of goods production because developed countries count on them for inexpensive labour. In doing this, underdeveloped countries are not able to gain control over the international...