Question

What are the political consequences of globalization?

1. The market, rather than welfare goals, is used to decide economic and social priorities.
2. The state’s dominance continues to be the unquestioned foundation of the political community.
3. Governments’ ability to make decisions on their own has been harmed by the arrival and expanded participation of multinational corporations.

• A. All
• B. iii only
• C. i only
• D. i, iii

Answer 1

Answer:

D. i, iii

• With the rise of globalization, there has been a noticeable shift in focus from welfare-oriented policies to market-driven strategies in various countries.
• This shift is often reflected in the adoption of economic policies that prioritize trade liberalization, privatization, and deregulation to attract foreign investment and stimulate economic growth.
• For instance, many countries have implemented free-market reforms, such as reducing trade barriers and promoting competitive market environments, as a response to the pressures of globalization.
  
  
• Governments’ ability to make decisions on their own has also been harmed by the arrival and expanded participation of multinational corporations
• Globalization has led to an increased influence of multinational corporations (MNCs) on the policies and decision-making processes of individual governments.
• MNCs, with their global reach and economic power, often wield significant influence over governmental policies, particularly in areas such as trade agreements, investment regulations, and taxation.
• An example of this can be seen in the negotiation of international trade agreements, where the interests of multinational corporations can sometimes overshadow the priorities of individual nation-states, impacting their ability to make independent decisions in the global arena.