How does economic globalization affect national sovereignty? 🔊
Economic globalization significantly affects national sovereignty by creating interconnectedness among economies, often at the expense of governmental control. As countries engage in trade agreements and participate in global markets, they must adhere to external economic regulations and standards, which can limit domestic policymaking. This interdependence may dilute national authority, as governments can face pressures to conform to international norms, impacting local industries and labor standards. Additionally, globalization can lead to increased competition, prompting countries to prioritize economic growth over regulatory autonomy. Balancing these external influences with national interests remains a critical challenge for policymakers.
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