AshEse Journal of Economics
Vol. 3(2), pp. 146-169, October, 2017
© 2017 AshEse Visionary Limited
Globalization: Democratic Sovereigns and International Actors
Ashinze Paul Chibuogwu
Postgraduate Researcher, School of Political Science and Public Administration, University of Electronic Science and Technology of China, Chengdu, Sichuan Province, P.R. China
Received August, 2017; Accepted September, 2017.
Globalization provided the world a border-less and integrated global economy. The processes of globalization have impacted the economic, political and social systems of countries across the globe. The world has experienced increased economic integration bridging the gap between territorial space of countries and regions as there exist ever deepening relationships among global governance, global politics and global economy. The rise in number of transnational institutions and their capacity to inﬂuence global politics are key features of the modern global system. This paper investigated the effect of the shift of power from democratic sovereigns to international actors and NGOs. It was found that international actors including NGOs form vital force determining governance both locally and internationally. The Global governance system is characterized by lack of equality in global decision making process. Secondary data obtained from official documents and published research sources was used to explore the relationships among global governance, global politics and global economy together with the ever increasing presence of transnational actors and NGOs.
Globalization, Global Governance, State, Transnational Actors, Global Political Economy