The political changes and developments that accompanied globalisation were-
The collapse of the erstwhile socialist world hastened globalisation.
1. This also gave a specific economic and political approach to the economic policies that underpin globalisation. These changes are often termed as neo-liberal economic measures.
- These policies reflect a political vision of free enterprise which believes that a free reign to market forces will be both efficient and fair. It is, therefore, critical of both state regulation and state subsidies.
- The existing process of globalisation in this sense does have a political vision as much as an economic vision. Thus, we have the concept of inclusive globalisation i.e. one, which includes all sections of society.
2. Another significant political development which is accompanying globalisation is the growth of international and regional mechanisms for political collaboration. The European Union (EU), the Association of South East Asian Nations (ASEAN), South Asian Regional Conference (SARC), and more recently South Asian Federation of Trade Association (SAFTA) are just some of the examples that indicate the greater role of regional associations.
3. The other political dimension has been the rise of the International Governmental Organisations (IGOs) and International Non-Governmental Organisations (INGOs). An intergovernmental organisation is a body that is established by participating governments and given responsibility for regulating, or overseeing a particular domain of activity that is transnational in scope. The World Trade Organisation (WTO) for instance increasingly has a major say in the rules that govern trade practices. INGOs differ from intergovernmental organisations in that they are not affiliated with government institutions. Rather they are independent organisations, which known INGOs are Greenpeace, the Red Cross and Amnesty International, Medecins Sans Frontieres.
