The Nature of Global Governance The study of Globalization appears rather abstract and 'out there' rather than part of our daily lives. I’m a big fan of globalization, so does that make me a globalist? Get this from a library! Raustiala argues that critics of globalization increasingly “expect more openness, more transparency, more accountability; in other words, a process more like domestic governance.” Raustiala contends that can learn something important by looking to domestic politics: powerful lobbyists and special interests did not emerge because the state was getting weaker. 1999, Globalization and global governance / Vincent Cable Royal Institute of International Affairs London. New globalisation and the fragmentation of the western or centralised global governance system has led to a situation in which emerging economies have the ability to place overt and direct pressure on particular aspects of the process of global governance, but also to highlight the lack of legitimacy surrounding the post-World War II global governance system, and force change. Chapter. Globalization and global governance. Globalization has not transformed the world, and the concept of global governance of the world proved to be a failed attempt, manifesting a variety of system dysfunctions. Colonization was a less disguised approach of imperialism and exploitation of the natural wealth of ‘undeveloped’ countries [FR 1.2]. K. Benedict, in International Encyclopedia of the Social & Behavioral Sciences, 2001. Global governance is a purposeful order that emerges from institutions, processes, norms, formal agreements, and informal mechanisms that regulate action for a common good. That depends on what is meant by that term. Please see Wikipedia's template documentation for further citation fields that may be required. [Vincent Cable] -- "This interdisciplinary study dissects the reality from the hype surrounding global integration - focusing on technology, emerging financial markets and multinational corporate behaviour. If it means free trade and peaceful interaction with other nations, the answer is yes. Wikipedia Citation. 816 Downloads; Globalization is not a new phenomenon. Crusades and other forms of proselytizing spread faiths and cultures over the planet. Though advocates of global governance portray it as enhancing democracy, defenders of traditional democratic values and state interests have questioned such claims. globalization - and global governance as the political reaction to it - on the one and foreign policy (analysis) on the other hand has been made to date. Globalization and Global Governance. Paradoxically, a very good example of how foreign policy analysis and globalization and global governance studies have been ignoring each other is the European Union (EU).