Study on Globalization and Sovereignty

The theory of sovereignty is one of the important issues in the field of international law. Globalization can promote the development of world economy and provide the opportunities of development for the countries all over the world through transnational capital flow, technology exchange and reasonable allocation of productive elements. In the meantime, globalization and international economy which rely on each other have posed a critical challenge to the state sovereignty. Traditional theory of sovereignty has been impacted and affected by globalization. Some new ideological trends, such as sovereignty nagativism and sovereignty weakening, affect people’s proper understanding of sovereignty to some extent. So, on one hand, we should maintain the principle of state sovereignty; on the other hand, we should realize that the state sovereignty can be restricted and developed on the basis of equity. Only by doing so can the state mix with the development of world economy and promote the development of domestic economy.