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What is the implication of globalization for policy-making
domestically?

1 Answer

7 votes

Final answer:

Globalization influences domestic policy-making by prompting adjustments to economic policies, trade agreements, and national security considerations. The complex interaction between domestic and international affairs necessitates strategic governmental responses to safeguard the workforce and economic interests within the backdrop of a global economy.

Step-by-step explanation:

The implication of globalization for policy-making domestically is multifaceted. Globalization affects local economies by encouraging the movement of corporations to countries with cheaper labor and more lenient regulations. This can lead to loss of jobs, political contention, and growing inequality within the country of origin. Domestic policy-making must therefore adapt to counterbalance such effects. Government responses to these challenges are expansive and can include crafting strategies to protect local workers, creating trade policies on different levels, including through the World Trade Organization (WTO), and regional agreements. Moreover, national interests such as safety, security, and business regulation come into play, with the government needing to strike a balance between economic growth and protecting citizens against harmful practices.

Politicians and policy-makers are engaged in debates on how best to handle these issues while safeguarding the interests of their nation's workforce and economy. In some instances, such as the 'guns versus butter' debate, decisions on whether to focus on domestic development or international initiatives are central to the intersection of domestic and foreign policy strategies. Finally, international trade agreements can be seen as safeguards that protect countries from domestic special interests lobbying for protectionist policies, which could be harmful in the long term.

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