The most significant political change was the disintegration of the socialist world. The Soviet Union and the Socialist countries of Eastern Europe crumbled one by one. This speeded up the globalization process. There was a new approach to economic policies. this is called the new liberalism. Activities undertaken with this approach are called new liberal economic activities.
The liberalization policy in India had a political view. It gave prominence to private enterprise. The basis for this belief was that a free market would be more efficient and better. This political view opposes government interference and subsidies. Globalization includes all kinds of different people without any discrimination of any kind, Another political result of globalization is the formation of regional and international organizations. Countries formed different organizations with the view of political cooperation.
Some of the important ones are:
a) European Union
b) ASEAN (Association of southeast Asian Nations)
c) SAARC (South Asian Association for Regional Cooperation)
d) SAFTA (South Asian Free Trade Area)
An International Economic Organization has the power to supervise the economic activities of its member countries. An example is World Trade Organization. As the name indicates trade is its area of interest. It controls the trade matters across the globe.
International organizations like the above are not related to the government of any country. They are independent organizations. They give attention to international matters and decide on policies. Green Peace, Red Cross, Amnesty International, Medicines sans Frontiers, etc. are famous non-government International Organizations.