State Sovereignty in the Current Economic Context

Globalization has raised the issue of the place and role of the nation state in the world market. The effects of globalization have resulted in the joint effort of some State’s sovereign powers, quite exclusive until recently, which leads to reconsider the concept of state sovereignty, tasks, functions and objectives of the state. Globalization involves reducing the state intervention in the economic matters, but it does not imply the disappearance of the state concept. The integration in the transnational economy necessarily implies the weakening of the nation-state authority, since it must make room for the independent actors.