Impact of Globalization on State Sovereignty:-
Discuss the impact of globalization on state sovereignty.
Impact of Globalization on State Sovereignty:-
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Concept of Globalization:-
Globalization is difficult to define in a single sentence. Globalization is not a sudden process, it has been active in the international arena since long ago. After the end of the Cold War with the collapse of the Soviet Union in 1991, the application of the term globalization took on a new dimension.
According to Joseph Stiglitz, Globalization is a process of closer connection between countries and peoples of the world.
According to Roland Robertson, globalization is related to the idea of expanding a new world order. In a word, globalization is a process of expansion of the world order by which all narrow concepts of the state are abolished and free exchange in economic, political, social and cultural fields is facilitated worldwide. Issues such as free movement of capital, free market economy, liberalization and privatization are closely related to globalization. IMF, World Bank, WTO - etc help establish globalization in the international arena.
Concept of Sovereignty:-
Sovereignty is one of the fundamental and essential elements of the modern state. According to Bonda, the proponent of the unitary theory of sovereignty, Sovereignty is the supreme and perpetual power of state. State sovereignty is absolute, absolute, unlimited and indivisible. No association or institution other than the State has the right to enjoy similar powers. According to internal and external sovereignty, the state has ultimate power in its internal affairs; State directives or orders apply to all persons and institutions located in the state. Again, according to external sovereignty, the state has independent power in determining policy in the international arena.
Impact of Globalization on State Sovereignty:-
1. Crisis of nation state:- Politically, many believe that globalization has created a nation-state crisis. The former concept of ultimate state sovereignty of nation states has largely become obsolete in the age of globalization. Globalization has eroded the sovereign power of the nation state and turned the state into a market-oriented organization.
2. End of Traditional Concept of Sovereignty:- Professor Holton in his book Globalization and the Nation State, while reviewing the impact of globalization on nation-states, said that the world in which nation-states live is changing. Globalization is a major source of that change. Various aspects of globalization have changed the roles and interrelationships of nation-states. Such a shift could end the traditional notion of ultimate sovereignty of states within certain territories.
3. Interference with state power:- Joseph S. Nye and John D. Jonahew wrote in the introduction of their book Governance as a Globalization World, in the era of globalization, mobility of capital, migration of skilled workers from one country to another, transfer of money and shares through information technology, etc. can be observed. These issues undermined the government's traditional ability to tax.
4. Dangers of Free Economic Policy:- Many people think that the independent economic policies of sovereign nation-states have become critical as a result of globalization. Due to the effect of economic globalization, the economies of all countries have become interdependent. Huge inflows of capital and technology have enriched trade in goods and services. As a result, the economies of various nation-states were integrated, creating a single global market. Multinational Corporations (MNCs), powerful international financial institutions and large international trading systems have established themselves as the main drivers and regulators of the twenty-first century global economy. Thus, as a result of economic globalization, the independent economic policies of nation-states have come to face danger. Third world countries are being forced to implement policies such as structural reforms, privatization and privatization of public sectors, withdrawal of subsidies, downsizing, etc.
5. Degradation of State System :- As a result of globalization, the state system has lost its traditional necessity. Due to the influence of globalization, on the one hand, regional and global communication is constantly increasing in the world; On the other hand, the number of national decision-making bodies is gradually decreasing.
Against this background, the old interpretation of sovereignty has become obsolete. According to international relations experts, globalization has not only eroded autonomy, globalization has gradually changed the political, social, national and regional infrastructure. In the new international system, the traditional power of the state has been fragmented among various political institutions.
Finally, in agreement with Professor David Held, it can be said that the adverse effects of globalization have not fallen equally on all states. The effects of globalization are greatest on underdeveloped and developing countries. According to Professor Held, however, the concept of legitimate sovereignty continues to be compelling. However, due to the complex international system, state sovereignty is currently limited.
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