Globalization and regionalization: how profoundly are they interconnected?

Abstract

Observing current stage of political and economic decision-making in Europe, leads me to conclusion that the governments have been weakening at the expense of increasing importance of other actors and are rather being overshadowed by a certain kind of governance that has been gradually replacing the government as an old-fashioned mode of political decision-making. The long-term liberalisation of the world trade and constant development of global market have strongly affected ways of how governments behave in terms of economy and law-making. The national governments have been loosing their powers over economic management and they are getting to become more and more dependent on decisions of multinational corporations recently turning into roles of the most important actors of the economic development. In regard to these changes the national governments have been trying to not forfeit all its influence over the traditional fields of governmental management and they are turning themselves to supranational organizations such as the European Union supposing to it will help them to respond effectively to the emergiong challenges the globalisation brings. The European Union has developped many tools in order to successfully face the increasing economic competition in its internal territory and of course between...