Submission of Summary "Runaway Globalization Without Governance" by Mr. Nayan Chandra

Task 1: Summary (5%)

Article: "Runaway Globalization Without Governance" by Mr. Nayan Chandra

Summary of the article:

"Globalization may bring adverse impacts to the world as governance fails to catch up with the pace of globalization. Globalization is the process where communities become inter-connected with one another. As various states establish their own set of laws to rule over their people and utilize scarce resources, it is difficult to come to a consensus on an internationally recognized set of laws which will not affect their interests. An example would be the need to govern intellectual property rights.

Furthermore, the existence of expanding empires is helpful in regulating globalization but results in other problems that require more rules to be enforced. International coordination is needed to address the issues that arise from the growth in the communications and transportation sectors as regulation lags far behind. International regulation will only work if conflicts of interests do not exist. When sovereignty and national security are at stake, negotiations for global governance become difficult and this is the challenge at hand. However, the United States, a key player in international governance, is not assuming an active role in promoting global governance and this may in turn put the world at greater risk."

Cheers,

Joan