Question

Offer an argument from each side of the debate over globalization'simpact on national Sovereignty? This is for International Business Class

Answer 1

Answer : Sovereignty means power of the government body controlling the activities of the government. It is without making interferance from outside sources. It is self governing state. Globalisation and national sovereignty means that in today global world , economic has been shifting power from national level to supernational organisation such as WTO, EU and the UN.

Argument in favour of globalisation and National Sovereignty that globalisation has been provide widecoverage which lies that the supernational power of government can provide more benefit to the countries as compare to national sovereignty.

Benefit of gobalisation that has been organised such as :

• Proper growth of trade in an economy without any interfarance.
• Stimulated economic growth.
• Income of the consumer has been increased.
• Creation of the job.
• It has been specialised in the production of goods and services.

Here the goal of WTO is that there is proper growth of trade in an economy without taking interface of other factors taken into an account.

Argument against globalisation and National soverignty is that power of super natural organisation with globalisation has been less than in economic has been drastically shifting with globalisation such as :

• Falling restrictions on trade resulted in the loss of manufacturing jobs in developed countries.
• Wage rate in developed countries has been declined.
• Loss of soverginty in the country.