Effect of Globalization on Sovereignty of States
We had lived in a world of essentially unchallenged sovereignty for several generations now, and had begun to think of it as the natural state of affairs. However, the idea of states as autonomous, independent entities is collapsing under the combined onslaught of monetary unions, global television CNN, the Internet, governmental and non-governmental organizations. In this article, we intend to examine the effect of globalization on the notion and incidence of sovereignty of states and how nation states have adapted to the new challenges of globalization. Governments and activists alike complain that multilateral institutions such as the United Nations, the World Trade Organization, and the International Monetary Fund overstep their authority by promoting universal standards for everything, which in turn alter the scope of state authority. It is our intention to consider just how much globalization has affected state authority.