The Influence Of Globalization

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The dubious nature and influence of globalization is profound within the International Political Economy (IPE). Globalization is used in reference to three distinct sets of forces in the world economy. Internationalization encapsulates the upsurge in economic transactions across borders which has been occurring since the turn of the century but which some contend has experienced a quantifiable spike in recent decades. Technological revolution, a second facet of globalization describes the way modern communications made possible by technological advancement have made location and distance less important aspects, not just for government at the local and regional levels but in the quantification of modern-day communications which enables firms and other actors to operate globally with less regard for position, distance, and borders. The liberalization theory describes the policies undertaken by states which have engendered a new global economy. Both rules and institutions are created by powerful states in sustaining a new scale of transnational economic activity in certain sectors of the world economy. This also comprises the policies of smaller and less influential states in the system who through liberalization, investment, production, or trade have integrated into the fabric of the world economy. In International Political Economy, different competing claims are made about globalization. For instance, some scholars claim that globalization is nothing new, others argue that
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