In brief, the states that have engineered globalization can also reverse it in some way. In the present world, the governments are moving at great speeds to remove the obstacles that impede the implementation of free trade. The element of the fallacy that the critics of globalization uses are the fear that economic globalization increases the dependency on the states and hinder the ability of the nation to give appropriate welfare to the citizens.
Since the beginning of the century, the free financial reforms of the World Bank, the Washington consensus, and the IMF have been a subject of criticism. The condemnation of the neo-liberalization structure has been that the markets reforms have not generated a sustainable growth, not reduce the debts by the developing countries, and resulted in inequality. The projects aimed to alleviate poverty have been constituted and still puts an emphasis on the global free financial markets. According to the liberal economists, the policies have been focused on growth alone and not alongside equity. The financial discipline and regulations in privatization cause the inclusions of other significant political and trade liberalizations. A beneficial globalization dimension constitutes the mechanism of an institution to achieve the goals of social agenda at a faster rate. Rayan believes that a transition into a more successful globalization, the variations, and changes in policy must manage carefully. The state nation should be in a position to create policies and institutions that cushion the harmful effect of globalization. The globalization trends have significantly accelerated the changes in sociology. Some observers have declared that the global capitalism requires radical reforms to reduce the surplus.
Liberalization as a political ideology just emerged in the recent times and had undergone growth, decline and of recent late revival. The economic liberalization briefly coins the idea that the nation states should not interfere with the economy.
