Essay on The Role of Local Governments in the Global Economy

NOYO OSAGHAE 1/30/2012 I HAVE NEITHER GIVEN NOR RECEIVED, NOR HAVE I TOLERATED OTHERS’ OF UNAUTHORIZED AID THE ROLE OF LOCAL GOVERNMENTS IN A GLOBALIZED ECONOMY Recent developments in the global economy would seem to suggest that it is in the interest of states to be integrated into the global economy, although it is also obvious that most would like to do so in the most beneficial and equitable ways. The increase in the number of states seeking membership in the World Trade Organization is perhaps evidence enough that states, whether developed or underdeveloped, democratic or non-democratic, want to play a role in the World Liberal Order. The circumstances under which states are influenced to be integrated into the global economy†¦show more content†¦According to her â€Å"While globalization gives rise to global cooperation, global local tensions surface as localities adapt to economic, technological and societal changes brought about by this process†. The method of adaption stated, is through the process of â€Å"Glocalization† which she defines as â€Å"a merging of global opportunities and local interests, aim ing to create a more socio-economically balanced world, which calls for the accommodation of global perspectives to local conditions, as well as for a more pronounced role of local actors addressing global challenges†. She further explains the function of Glocalization as â€Å"making cities key players in decentralized foreign policy, diplomacy, trade and inter-city projects forwarding social and economic development. This activity happens through the creation of coalitions where local governments serve as a balancing force to international private and public sector organizations in the framework of joint projects†. This viewpoint emphasizes the importance of the reform of globalization to be spearheaded by local leaders as they are more sensitive to social and cultural needs and closer in proximity to citizens than their national counterparts. The author analyzes these local responsesShow MoreRelatedLocal Economic Development For The City Of Johannesburg South Africa1428 Words   |  6 Pagesrecommendations for the local economic development for the city of Johannesburg South Africa. These recommendations are put forward to identify local strategies and actions that may be used to assist with the retention of workers within the South African economy, grow the work force and maximize opportunities for economic growth. . Local economic development involves identifying and utilizing local resources in creating opportunities for economic growth and employment. 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