Question

Are globalizing markets limiting the power of governments and societies to freely choose their policies and their futures? ( answer must be from the international business book by charles hill 10th edition)

Answer 1

No, glabilized markets are not entirely limiting the power of governments and societies to freely choose their policies and their future. This is had only been the in the late 90s after WTO was formed wherein US was considered to have monopoly over most of the trade decisions and policies that were implemented by the WTO. However today, many emerging economic superpowers like China and India have completely changed the trade scenario. Even the emergence of Asian Tigers like Singapore Hong Kong, Thailand and Malaysia has completely shifted the concentration of large MNCs from the West towards the East. Thus, one can conclude that globalizing markets do not limit the power of governments and societies, but has in fact led to increased in their powers in the past few years.