The Role of the State as an actor in Global Governance: Implications for East Asia
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Globalization is underway in numerous dimensions. Today, more than ever, it comes into practice in various aspects. All the people on our globe are increasingly seeing the new issues and countereffects that governments and societies must confront. In recent years, the impact of globalization on state sovereignty has been subject to critical scrutiny. Some argue that globalization has eroded state sovereignty through the information and telecommunications revolution. Others claim that the process of globalization actually has fostered the authority of state. At the center of the heated debate, this paper takes the position that the interaction between non-state actors on our globe and the territorially bound nation-state lies somewhere between the extremes of globalism that sees a state’s obsoleteness and the realism stressing the primacy of nation-state as the central actor. In support of this perspective, it is important to note that the dynamics of rule of national law and international law underlies the relationship between globalization and state sovereignty. Given the close relationship, this study seeks to address the status of the state under international law and in a changing world. In this regard, it attempts to reconceptualize the traditional notion of state sovereignty in a global era. Then it highlights the increased interaction and interdependence both between states and between the state and global civil society in the global economy. Finally, this paper will draw from suggestions that may be useful to those involved in promoting Asian regional financial cooperation and thereby enhancing global financial governance.
Abstract
Globalization is underway in numerous dimensions. Today, more than ever, it comes into practice in various aspects. All the people on our globe are increasingly seeing the new issues and countereffects that governments and societies must confront. In recent years, the impact of globalization on state sovereignty has been subject to critical scrutiny. Some argue that globalization has eroded state sovereignty through the information and telecommunications revolution. Others claim that the process of globalization actually has fostered the authority of state. At the center of the heated debate, this paper takes the position that the interaction between non-state actors on our globe and the territorially bound nation-state lies somewhere between the extremes of globalism that sees a state’s obsoleteness and the realism stressing the primacy of nation-state as the central actor. In support of this perspective, it is important to note that the dynamics of rule of national law and international law underlies the relationship between globalization and state sovereignty. Given the close relationship, this study seeks to address the status of the state under international law and in a changing world. In this regard, it attempts to reconceptualize the traditional notion of state sovereignty in a global era. Then it highlights the increased interaction and interdependence both between states and between the state and global civil society in the global economy. Finally, this paper will draw from suggestions that may be useful to those involved in promoting Asian regional financial cooperation and thereby enhancing global financial governance.
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