Is globalization rendering nation-states weak and irrelevant Discuss, Essay

Is globalization rendering nation-states weak and irrelevant Discuss, with examples - Essay Example The economic strength of a nation defines its political powers. Globalization has given rise to strong nations both economically and politically. Globalization fosters economic interdependence. States become key producers of certain products and services, while they rely on other nations for other insufficient products (Hirst & Thompson, 2002, p.279). This capacitates nations to trade freely thereby leading to a significant increase in the GDP of such nations across the globe. The capability of a nation to avail such products and services globally renders such a nation to be significantly relevant in shaping world economy, thereby strengthening its political strength. For instance, various oil-producing nations have a significant economic relevance globally. However, they ought to rely on other nations that produce other products such as agricultural and technological products. The interdependence that globalization creates is significant in promoting political stability among nations, thus promoting peace globally. The economic interactions have fostered the development among nations, particularly the developing nations through the importation of human resource capabilities such as technological and business expertise (Hirst & Thompson, 2002, p.189). Additionally, developed nations have been able to bring in cost-effective human resource from the developing nations, and this has critical improvement in the improvement of productions of such nations. As such, various countries play a critical role in shaping the global economy. The transcendence of a global economy across borders has given rise to various bodies that include the Word Bank and IMF among others. These bodies play a critical role in the globalization, since they implement policies that aid in controlling word trade. Besides, these bodies significantly aid nations in propelling their economic capabilities through