5 questions on "Eclipse of the state? - Decline and fall of the state?"

What is cultural globalization?
The process whereby information, commodities, and images produced in one part of the world enter into a global flow that tends to 'flatten out' cultural differences between nations and regions
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What is the central feature of economic globalization?
The rise of supraterritoriality (the process through which economic activity increasingly takes place within a 'borderless world').
- financial markets becoming globalized; capital flows around the world seemingly instantaneously.

--> How can economic sovereignty be reconciled with a globalized economy?

State sovereignty in its traditional sense cannot survive. Governance has assumed a post-sovereign character.
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What is economic sovereignty?
The absolute authority of the state over national economic life, involving independent control of fiscal and monetary policies, and control over trade and capital flows
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What is political globalization?
The growing inmportance of international bodies and organization, and of transnational political forces generally
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How is the growth of politics beyond the state apparent in the trend towards political globalization?
International bodies (UN, EU, WTO) have undermined the capacity of the states to operate as self-governing political units. Decisions are made intergovernmental/supranational level, meaning that the state has to exert their influence or operate within a framework. --> led to multilevel governance.
This can open up, but also diminish opportunities.
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