In: Economics
Using the Liberalism approach (one of the theories of international relations) whether globalization brings about a more stable global security environment. (250 words)
Liberalism approach to international relations revolves around certain principles which include rejection of power politics as the only outcome of international relation, international co-operation and mutual benefit, and role of institutions and non-state actors in international relations. Liberals believe that with right institutions and diplomacy prosperity can be maximized and conflicts can be minimized.
Having said that we can infer that globalization according to liberals will bring about a more stable global security environment. Globalization inherently depends on mutual co-operation and trust among states, which would mean minimization of international conflicts. Moreover globalization means increase in trade , economy, opening up of markets to/for new products, creation of jobs, and a host of other such economic benefits. Thus globalization is an apt example of states working together for prosperity. The role of multilateral institutions such as IMF, WTO etc. and of non-state actors such as MNCs, global supply chain management systems, information technology systems etc. also play a major role in policy making and implementation which leads to more security in nations. For example if a country wants to attract more FDI then it will have to have political, economic security plus the country which is putting money in the other country will also help the receiving country in security in order to protect donor country’s investments.
Also in today’s world globalization has already created interdependence among countries. Resolving conflicts through talks and diplomacy is the only fruitful way to extend prosperity and benefits to each other. Hard power such as war to resolve international conflicts would do heavy damage economically to all countries and economies. Nations today understand this and actively refrain from such hard tactics and hence contribute to global security.