... taking their place (Held, 1999). The driving forces behind globalisation are capitalism and new technologies which enable faster, more seamless communication. The hyperglobalist approach views the power of national governments as either eroding or at least declining replaced by more powerful forms of governance (Held, 1999) Sceptics suggest that globalisation is a myth. This view of globalisation is built on the assumption the globalisation is achieved by a perfectly integrated global market. Given that evidence supports increased activity between national economies, sceptics argue that globalisation is exaggerated. Further evidence suggests that the world economy is evolving into three major trading and financial blocs: Europe, Asia-Pacific and America. Sceptics view this regionalisation as contrary to globalisation. (Held, 1999) The transformational view is that rapid social, political and economic change are reshaping nations to the point that the power, authority and functions of governments are being challenged. Unlike the sceptical and hyperglobalist views, transformationalists ...

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