The Governance of Globalisation: Is it Time for an Alternative Approach?

The world today is a much smaller place as compared to the world of the past because of advances in transportation and telecommunications technologies. In an era of instant communications, the world as we know it changes rapidly and often no one is in charge. The ability to trade globally and transfer capital anywhere has radically transformed the way in which the world works. Those who support globalisation insist that although many legitimate concerns do exist, they should not be permitted to hinder the free flow of goods and capital around the world. It is claimed that trade between nations will prevent war and ultimately result in greater global prosperity. However, the opponents of globalisation argue that along with free trade, the concerns associated with disparity of wealth, protection for the environment and issues related to the dignity as well as security of labour should also be addressed.