countries, who claim their nations represent public interest, globalism is becoming a tool in the fight between capitalist forces an
d national will. As a result, state power is eroded by capital, leading to alienation and political strains in some countries.
It is believed that some countries cannot bear the negative effects of globalization. The main reason for t
his is that capital is equipped with increasingly powerful characteristics that weaken nations’ capa
bility to control their capital and eliminates sovereign states’ ability to embody the will of the people.
The hit on state power by capital not only leads to financial chaos, triggering financial and economic crise
s, but can also generate social and political woes. Western countries’ easing financial regulations resulted in the 2008 financial c
risis. In recent years, developed countries are experiencing increasing economic and political challenges, which a
ctually are extensions of the 2008 financial crisis. Some of them are yet to be addressed.
Economic liberalization faces challenges in the developed and developing world.