Sample Essay Globalization of the world economy has come along with a number of challenges.…
This essay will include how the Bretton Woods negotiations led to the rapid progress of globalization and will also debate the consequences of globalization wherein poor countries feel that they are being exploited for their weaker economies and that the advanced nations are getting richer by manipulating world laws in their favour. In addition to this the essay includes a discussion on the impact of globalization and the arguments against and for it.
Before proceeding to discuss how the world is becoming borderless, we should know how the rise of the nation state ideology came about to understand why people of the world today are supporing globalization. The rise of the nation state ideology came about in 1648 with the Treaty of Westphalia where the governments started moving towards supporting people who lived in their region and shared similar values and cultures as dictated by their geographical locations. Moreover, with the coming of Ronald Reagan and Margaret Thatcher in the US and the UK respectively, these nation-states moved towards neo-liberal policies which were centred on encouraging private enterprise and minimizing state intervention. (Lambie 2009)
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