An economic governance and globalization

Abstract

Globalization, with its dominant economic character, has contributed to shaping economic governance and reshaping its features, imposing new mechanisms based on openness, competitiveness, and market liberalization. With the new changes that have occurred in the global economic system, which have cast their shadow on various economic systems around the world – whether developed or developing – these systems have become required to adapt their conditions and institutional and legislative structures in line with the new requirements imposed by the global economy colored by globalization and its accompanying challenges and opportunities. In light of this, this article seeks to shed light on the nature of the dialectical relationship between globalization and the orientations of economic governance, by analyzing the nature of this relationship and its dimensions, reviewing the problems it raises, and revealing the extent of globalization's impact on economic governance paths locally and globally, in order to monitor this dialectic and understand its mechanisms of operation in the context of the contemporary international economy.