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“Globalisation completely reconfigures the legal and political institutions of the nation state”. Discuss with particular reference to the effects of globalization on sovereignty and the rule of law  

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"Globalisation completely reconfigures the legal and political institutions of the nation state". Discuss with particular reference to the effects of globalization on sovereignty and the rule of law. Globalisation has changed differences and borders around the world where security and legality in legal and political institutions must be measured in a new context. The problem can be seen politically, economically, demographically and environmentally which cannot be regulated on a national policy. International instruments have been implemented which is a demonstration that sovereignty is of key importance.1 Globalisation brings a renewed emphasis on regulatory standards and norms reflected in international standards, however not relevant in the 'hard law' of international treaties, often administered by independent national regulatory agencies with the help of international organisations.2 It captures the internationalization of capital and financial markets with the increase in foreign trade, growing importance of multi-national corporations and the universal movement towards regional economic and...

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