Globalization Nation States

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Globalization and Nation States Globalization has integrated and intertwined the economies of the world. In the world today, every nation has become independent on every other nation, be it through trade or through finance. Developing countries today are attracting large rounds of foreign investment, and this foreign investment is coming from the developed countries. Thus, the money of the developed countries is today invested in the developing countries. At the same time, the world has also become interdependent due to trade relations. Major countries in the world trade with each other so as to ensure maximum productivity. Trade laws have been established through international organizations dictating the extent of trade relations. Imports are duty free and exports are in the bulk. The list, in fact, does not end here. Multinational companies have taken a step further and started to manufacture goods at the Global South, and sell them for competitive prices in the other parts of the world (Dunning & Lundan, 2008, pg. 32). What this has effectively done is that it has tightly coupled the economies of the world. No country in the world today is independent of the other. Whereas earlier, only strategic alliances were important, today even trade and financial alliances have become important. Globalization has indeed ushered in a positive development in the world. At the same time, it has also brought about a large and unique set of problems that must be tackled by the
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