Sovereignty And Globalization Essay

Length: 3 pages Sources: 4 Subject: Economics Type: Essay Paper: #94867647 Related Topics: Multinational Corporation, Brazil, Global Perspective, International Political Economy
Excerpt from Essay :

Global Proliferation

Managing the Effects of Globalized Proliferation on State Sovereignty

What are the essential elements of an effective strategy to address proliferation?

Effectively managing the cultural, economic and sociopolitical effects of globalization needs to begin prior to its proliferation across a culture. The emphasis on ensuring consistency and balance between the cultural norms and values of a nation or region vs. The benefits of globalization need to be defined through constructs and frameworks (Nef, 2002). The essential elements of an effective strategy to address the proliferation of globalization need to include a very clear definition of state sovereignty, especially in the most critically important areas of economic policy (Hobson, Ramesh, 2002). This is essential for balancing the needs of a sovereign state and the clarity and stability of economic policies relative to the continual economic pressure to continually become more consolidated into a regional trading block or operating region (Randeria, 2007). Nations attempt to achieve the balance of controlled globalization to ensure economic growth without having to experience the downside effects that globalization can deliver to any nation, including wage competition, greater compliance and reporting requirements, and greater instability to currencies (Lentner, 2010).

Defining the policy and strategic aspects of which areas of a nation's economic, fiscal and sociopolitical policy will be immune from globalization's proliferation takes forethought and the use of scalable, flexible frameworks (Nef, 2002)....

...

This approach to creating an effective strategy for mitigating the downside risks and unintended costs of globalization need to be taken into the context of global economic development, the potential use of Corporate Social Responsibility (CSR) programs for multinational corporations leading the shift to globalization,. And the potential to supplant an existing economic policy with MNC's assistance. Third world nations that have the need for greater infrastructure including Brazil, Russia, India and China have the option of bargaining their native markets for greater CSR support, holding MNCs accountable for their performance to common standards (Higgins, Hallstrom, 2007). Only by building in a more robust approach to accountability for performance of MNCS and their contributions through well-defined CSR programs will nations be able to better manage proliferation to their advantage. Without any structure or framework (Nef, 2002) any nation and region will quickly find their national agenda being challenged by the aggregated interests of MNCs who have the potential to significantly change their economic national agenda quickly.

B. Is globalization a substantial threat to state sovereignty? Do we need to think of sovereignty differently?

Globalization is a significant threat to…

Sources Used in Documents:

References:

Falk, Richard. 1995. Toward obsolescence: Sovereignty in the era of globalization. Harvard International Review 17, (3) (Summer): 34.

Higgins, Winton, and Kristina Tamm Hallstrom. 2007. Standardization, globalization and rationalities of government. Organization 14, (5) (09): 685-704.

Hobson, John M., and M. Ramesh. 2002. Globalisation makes of states what states make of it: Between agency and structure in the state/globalisation debate. New Political Economy 7, (1) (03): 5-22.

Lentner, Howard H. 2010. Globalization and sovereignty. Political Science Quarterly 125, (1) (Spring): 135-137.


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