Saturday, April 27, 2019
Hyper Globalization Research Paper Example | Topics and Well Written Essays - 1750 words
Hyper world-wideisation - Research Paper ExampleAccording to Rodrik it is impossible to have a situation where globalisation flourishes succession democracy and sovereignty succeed. Rodrik argues that where globalization flourishes, national policies are weak and where state democracy is strong globalization has no root in that country. Rodrik says that the choice is what is necessary for nations to choose either to succeed in the global integration or national interest. However, he argues a balance can be achieved like the Bretton timber convention agreement. Rodrik Dani presents the Argentina scenario to argue that globalization and national politics are incompatible. Argentina economy collapsed later on managing to pass the Convertibility Law which ensured that monetary mismanagement was checked to avoid loss of government fund. However, the law created adverse exchange rates that made investor turn down any investment opportunity in the country. The lawgiver had made it a political ideology to control the exchange rate and thus the ideas got support from any quarter of the nation. Nevertheless, the country bumped itself into the reality of the global economy. The advent of GATT and World Trade Organization brought an era that championed the clear of globalization. These bodies strategized the functioning of the global market by drawing up laws that would check and improve trade among nations. According to Rodrik, the agreement of Bretton Woods, GATT and WTO refuted the national laws to accommodate free trade. The developed countries supported the idea of globalization and helped take in international financial institutions like the International Monetary Fund, World Bank and General Agreement on Tariffs and Trade (GATT). These institution initiated hyper-globalization, but with the subordination of national policies.