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Runaway Globalization Without Governance
Runaway Globalization Without Governance
MBA 2 TBBA
1
made the rivals find newer routes and means to trade by bypassing the hostile regions. European
powers developed their navies, but were bound by universally accepted argument that the seas
were not to be owned by one, but to be shared by all.
Transportation and Communication technology provided faster access to far-flung areas via the
oceans and postal services were evolved and a common agreement was reached on postal
communication rules via the Treaty of Bern.
Technology innovated at a faster pace than the regulations devised to make it efficient. Time and
space problems arose with railways and telegraphs usage, and the global community agreed to
use a common zero for standard of time and Greenwich Mean Time was accepted as the center
of twenty four time zones.
The evolution of governance and adopting new standards has brought about a vital and practical
solution to difficult problems and has been at the forefront of global cooperation as the different
stakeholders are brought together by the promise of common good. Notwithstanding the above
benefits reaped by all, the issues of sovereignty and national security have become the latest
concerns requiring global attention and a common solution via global regulations. As the above
two issues await resolution, the nuclear proliferation and development of deadly weapons is at
large in the name of protecting the nations.
The third great challenge faced by the world is the climatic change brought about by excessive
communication, industrialization and growth in trade. The world as it is today is unwilling to
accommodate the imminent danger by forgoing the economic benefit available at the cost of
deteriorating environment. United States, the biggest beneficiary of the increased globalization
and the leader for the recent past of the global scenario is shying away from taking responsibility
and difficult decisions, leading to a checkmate situation.
United States has been in a position to impose its global dominance at various junctures of
history, but the country has tried to be as conducive to integration as possible while allowing
other nations to remain sovereigns. Recently the attitude of US has been to reduce the
responsibility it takes for the matters of global importance, but it is paramount that United States
retains its role to meet with the growing challenges of the globalized world, which put the basic
element of globalization at risk.