The Phenomenon of Globalization

1498 Words Feb 1st, 2018 6 Pages
Nevertheless, there is little doubt that globalization has begun to take effect throughout the world and that as it develops it has begun to transform the world's economy, its social structure, and political balance (Roundtree, 2006). How pervasive these changes may be remains to be seen but the fact that they are taking place cannot be denied. As indicated, no one has a clear idea of what globalization truly is. It is a phenomenon that has a multidimensional character in that it has increased the flow of trade between nations, enhanced the exchange of information, and transformed the way that the world transacts business. In the process, globalization has picked up its critics and supporters but the generalized public policy throughout the world has been toward allowing global market forces to operate freely. A condition that encourages the process of globalization to prosper and until such time as such public policies are changed globalization will likely continue in earnest. One of the side effects of the process of globalization is the belief that the nation-state has it is presently formulated will become obsolete. In the course of this paper the effects on the nation-state will be examined and a determination made as to whether the claim of the experts as to the potential obsoleteness of the nation-state is valid. As…
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