Question
What political changes have occurred with globalization?
Solution
The following political changes have occurred with globalisation:
- The major political change, namely, the collapse of erstwhile 'socialist world' that hastened globalisation.
- The changes introduced by the process of globalisation are often termed as neo-liberal economic measures as it gave a specific economic and political approach to the economic policies.
- The globalisation support the policies that reflect a political vision of free enterprise which believes that a free reign to market forces will be both efficient and proper.
- The important political development which is accompanying globalisation is the growth of international and regional mechanisms for political collaboration e.g. EU, ASEAM, SARC and SAFTA.
- The other political dimension of the process of globalisation is the rise of 'International Governmental Organisations' (IGOS) and 'International Non-Governmental Organisations (INGOs). WTO has a major say and significant role in the rules that govern and control trade practices.
- The existing process and pattern of globalisation does have a political vision as much as an economic vision. The concept of an inclusive globalisation includes all sections of society.
