Globalization shifted power away from national governments to corporations and transnational entities such as the World Bank. The effect of this shift is

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Globalization has led to the concentration of power in the hands of transnational corporations and organizations, which tend to be based in wealthy nations. This has resulted in an increased power imbalance between wealthy and poor nations, with wealthy nations having greater influence in shaping global economic policies.

Globalization Shifted Power Away from National Governments to Corporations and Transnational