Globalization and Sovereignty of the State.

Running head: GLOBALIZATION AND SOVEREIGNTY OF THE STATE
Globalization and Sovereignty of the State
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GLOBALIZATION AND SOVEREIGNTY OF THE STATE
Globalization and Sovereignty of the State
Globalization refers to the integration and interdependence of the different economies of
the world, and transfer and exchange of the cultures, population, technologies, investments,
resources and information across the world (Agnew, 2017). Thus, globalization is an outcome of
the increased cooperation between the political, economic and social environments between the
nations, which is driven by technological advancement, and transport sector development.
Globalization has both positive and negative impacts on various aspects of the countries and
sovereignty of the nations is one such aspect that has experienced the effects of globalization.
Sovereignty represents the implementation of the highest political authority and autonomy on the
citizens of a nation, with a specific boundary (Ladeur, 2017). Thus, sovereignty of a state
includes two aspects, autonomy and territoriality. While some economists argue that
globalization has no negative impact on the sovereignty of the states, some have the view that
sovereignty of the states is getting severely affected due to the growing globalization.
Stein (2016) highlighted that globalization often emphasizes on the global capitalism in
the economic sphere and the benefits are mostly enjoyed by the rich and developed countries and
few advanced developing countries. The less developed and poor economies are not able to
enjoy the benefits of globalization due to the income equality. Thus, the author stated that
capitalism often dominate globalization and the sovereignty of the capitalist nations is not
hampered much as the political systems of these states can also implement their supreme power
over the global economic integration. Even though the idea of integration of global economies
implies the collapsing of independent and autonomous entity of the states under the integrated
monetary unions, driven by technology, widespread internet, and increased volume of
international trade, yet it has been observed that sovereignty still remains the foundation of