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Question
"Globalisation has shifted power from nation-states to global consumers." Justify the statement.
Solution
Globalisation shifts the power to regulate certain activities from governments to international institutions, which are indirectly controlled by multinational companies. When a country is engaged in the business activities of other countries, its government makes agreements with respect to those countries separately. World Trade Organization (WTO) frames rules and regulation for all countries and the governments have to enforce these rules and regulations in their respective countries. Globalisation also compels many governments to change legislations and constitutions to facilitate the private sector. Governments are often compelled to do away with certain rules and regulations which safeguard the rights of working people and the environment.
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