ridges national divides by taking place across vast international networks. This very tangible aspect of globalization has resulted in the creation of international political and economic institutions such as the World Bank, the International Monetary Fund, the Group of 7, and the World Trade Organization. While the authorities of these various organizations remains limited in scope, it is likely that they will form the foundation for a new international economic regime as capitalism continues to expand and globalize (Scott, 13).
The economic pressures and realities of globalization have engendered the creation and expansion of regional multinational economic blocs such as the European Union, the North American Free Trade Association, the Mercado Commun Cono Sur, and others. These blocs are also representative of cross-national institutional responses to the emerging pressures of globalization (Scott, 13).
While sovereign nation states continue to be the norm world-wide, they no longer have the same degree of
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