Globalization — Important Questions

Political, Economic, Cultural

Globalization has three main dimensions: political (affecting state sovereignty and governance), economic (involving trade and investment flows), and cultural (affecting values, lifestyles, and traditions).

Maintenance of law and order, Security of citizens

Due to globalization, states are withdrawing from welfare functions and focusing on core functions like maintaining law and order and ensuring citizen security, while markets determine economic and social priorities.

IMF (International Monetary Fund), WTO (World Trade Organization)

The chapter specifically mentions IMF and WTO as international institutions that play important roles in determining economic policies across the world as part of economic globalization.

False

The chapter clearly states that developed countries have carefully guarded their borders with visa policies to ensure that citizens of other countries cannot take away jobs from their own citizens. Movement of people has not increased to the same degree as other flows.