Globalization VIS-À-VIS World Legal System

(1) Introduction: 

The world has been shrunk down into a global village. In present age issue of a certain area does not remain confined to that particular area. Due to globalization the issue of the world and method of highlighting have been changed. Similarly the legal system of the world also has been varied. The globalization has the great significance in the legal systems of the world. There are many points of difference which occurred in global legal system due to globalization.  

(2) Definition:  

(a) “The state of being globalized, especially the development of an increasingly integrated global economy make especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.” 

(b) “Globalization is a phenomenon which talks about universal process which is beyond geographical, economical, social, cultural, and religious boundaries.”  

(c) “A universal process to ensure the vision of global village is called globalization.” 

(3) Features of Globalization:  

Following are the features of globalization under the line: 

(a) Access to have any product from Abroad:

In the modern world the world has shrunk down in a global village. Many trades, enterprises, business and mega-corporation are converting into online system. We can buy product easily in every country. Many companies helpful for the trades, this is the best example of Amazon, Ali-BABA etc.

(b) The world has shrunk down in a global village:

Every business has been shrunk down in a global village. People enjoy their lives and run business on international level. Any individual easily access to run business on international level.

(c) Easy transfer for Capital:

We can easily transfer capital through bank. On international level banking system has positive role for connecting the business, and circular money between many countries. In this rupees value increase day by day. World Bank controls all the banking system.

 (d) Free trade:

Every country does many treaties with other countries, and buys many needs of things. In this agreement many countries give benefits to the other countries. It is the best example of free trade.  

(e) Privatelization:

Many people run business on international level and make private companies and many treaties with foreign people. They use import, export license and run trade from one country to another country. Two private parties do signature on Performa invoice and confirm the order. In Pakistan many institutes are giving license to individuals, like Chamber of Commerce, PMEx and SECP. 

(f) Economic Reforms:

Economic reforms means relation to economy. In economic reforms countries that are open to international, grow faster, improve productivity. Any successful plan for international trade has to start with high quality and unique product.

(g) Application of International Law:

International law is same for every country. If any country violates the agreement, then other goes to international court of justice and talks about rights. If any country violates the treaties than other country does not make agreement with this country.

(4) Features of Global legal system:  

Features of global legal system are as under:

(a) Applicable on globe:

Global legal system is applicable on all over the world. All countries follow rules and regulations. If any country violates the rules and regulations or agreement, treaties, then other country can boycott this country, and that country cannot trade with other countries. Every country bound to follow international rules and regulations. 

(b) Promotion of international law:

Among the greatest of achievement the United Nations, international law is very useful. This is central to promoting economic and social development as well as advancing international peace and security.

(c) Promotion of Judicial Institution:

On international level we need to promote judicial institutions. All over the world people learnt the international law and the rules and regulations. Many people involve in the money laundering and smuggling etc. This is the big fault on international level. We need a judicial institution to give awareness to people about international law. 

(d) Control by International court of justice:

International court of justice handles the cases all over the world. All countries follow this court and believe on international of justice. International court of justice freely connects one country to another. 

(5) COMPARATIVE ANALYSIS:  

(a) Promotion of brotherhood among countries:

Globalization and global legal system promote brotherhood among countries. They make peaceful environment with each other, and countries do free trade with each other.  

(b)Rapid Growth of Multinational Companies:

Globalization and global legal system is very useful for all countries. Multinational companies are fast growing with respect to other to companies. Global legal system is the phobia for every country. Companies cannot cross their limits. 

(c) Promotion of treaties:

Treaties are the basic compulsion of whole world. Any country cannot live alone they need to do treaties with other countries. Globalization and global legal system are very helpful in the world.

(d) Complication of Law:

Law is very complicate on international level. If any country violates rules and regulations, then law cannot live silent and take action against company. All the countries can do total boycott of that country. 

(e) Action of International court of justice:  

International court of justice can take instant action on countries that violate. International court of justice deals many types of law on international level like, law of sea, economic law, diplomatic law, environmental law, human rights law, treaties law, etc.

(6) Conclusion:  

To conclude I can say that Globalization is a word use to describe the economic, culture, population, and cross-border trade. Globalization connects one country to another country. Globalization and global legal system are very close to each other. We cannot grow on international level without both. They can protect our trade, religion, economy, etc. The concept of globalization and global legal system is not new. The history of globalization is “earliest human migratory routes” and in this question we discussed features and comparative analysis with each other.