similarities between economic and political globalisation

• Both involve the increasing interdependence of states.

  • Economic Globalisation: Economic globalisation creates interdependence by integrating national economies into a global trading system. Countries rely on each other leading to economic reliance. Apple’s production— depends on components from China, South Korea, and the US.
  • Political Globalisation: Similarly, political globalisation increases interdependence through international institutions that require states to cooperate on global challenges.
  • The UNSC binds its members to collective decisions on international peace and security, meaning one country’s actions can affect many others, creating political interdependence
• Both are driven by the influence of international organisations.

  • Economic Globalisation:The spread of economic globalisation is heavily influenced by global financial institutions that shape trade rules and provide financial assistance.Example: The International Monetary Fund (IMF) and World Bank promote open markets and liberal economic reforms in developing countries, making economies more globally integrated.
  • Political Globalisation:Political globalisation is similarly driven by intergovernmental organisations that facilitate cooperation and promote global governance.Example: The United Nations and its various organs (like the WHO and Human Rights Council) provide platforms for states to develop international laws and respond to crises collectively.
• Both reduce state autonomy in decision-making.

  • Economic Globalisation:As economies become more interconnected, national governments lose some control over domestic economic policy.Example: EU member states cannot independently control monetary policy due to the eurozone, reducing economic sovereignty.
  • Political Globalisation:Likewise, political globalisation can erode sovereignty as states agree to abide by international laws or rulings.Example: The International Criminal Court can prosecute individuals even if their state opposes it, limiting state control over justice and legal sovereignty.