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Globalisation is mainly characterised as the trend towards the better interdependence and integration among various countries as well as regions around the world. Globalisation has mainly developed for political and economic linkage but it also has importance in the cultural, social as well as environmental aspects. Globalisation has become more relevant in the present economy because it has facilitated a rapid integration among the world economy for the creation of borderless economic development. Globalisation also generates cultural as well as political awareness’s and facilitates significant innovation. However, along with the positive impact, the globalisation also has some negative impact such as increased level of competition, reduction in the oil price, the weak economy is dominated by strong economy etcetera that creates challenges in the present international system. This assignment is intended to describe the main challenges of globalisation in the present international system.
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