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What Is Globalisation and How Does It Challenge World Politics - Essay Example

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This paper talks that globalization is perhaps one of the central components in the modern society that has revolutionized how people across the world interact. However, the concept of globalization is so wide in both theory and practice that there is no single definition of globalization…
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What Is Globalisation and How Does It Challenge World Politics
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Download file to see previous pages This essay stresses that as the world progresses, the growing unease fuelled by both political and economic disagreements have seen major countries across the world adopt measures that protect their interest. Held and Hirst state that China for example has introduced additional rules defined as serving ‘national security’ a situation that has increased economic uncertainty in China in terms of foreign investments. Countries like Russia on the other hand have developed what is referred to as sovereign wealth fund that is aimed at safeguarding the inward equity investments in Russia thereby encouraging internal economic activities. Australia introduced laws restricting takeover, a move that was seen as trying to block some nations from buying Australia’s natural resources.
This paper makes a conclusion that it remains to be seen whether globalization will have an overall positive impact on the global setting. This is because, there is still a general feeling that globalization brings along selfish interest among those in control. This explains why international trade bodies such as the World Trade Organization (WTO), international justice institutions and arbitration courts such as the International Criminal Court (ICC) and the international community bodies such as the UN and EU have never been unilaterally embraced. The main idea behind the formation of these institutions may have been positive but, such institutions might be manipulated leading to further widening of the power gap that may eventually lead to a full blown confrontation between different nations across the world. ...Download file to see next pages Read More
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