Which of the following statements is correct about the impact of globalisation?

(A) Globalisation has eroded state sovereignty.
(B) Globalisation has paved the way to a maximalist welfare state.
(C) The increased role of multinational companies has reduced states' decision making capacity.
(D) Globalisation has had differentiated impact on all states and societies.

Choose the correct answer from the options given below:

(A), (C) and (D) only

The correct answer is Option (2) → (A), (C) and (D) only

(A) Globalisation has eroded state sovereignty. (Correct). Globalization, through the rise of international organizations, multinational corporations, and global financial markets, has challenged the traditional notion of state sovereignty. States often have to adhere to international agreements and economic norms, which can limit their ability to make independent decisions on trade, finance, and other policies.
(B) Globalisation has paved the way to a maximalist welfare state. (Incorrect). Globalisation usually pushes for liberalisation and privatisation, reducing welfare state capacity, not expanding it.
(C) The increased role of multinational companies has reduced states' decision making capacity. (Correct). Multinational corporations (MNCs) wield significant economic power, influencing government policies through investment decisions, lobbying, and the threat of relocating production. This can limit a state's autonomy in regulating labor, environmental standards, and taxation.
(D) Globalisation has had differentiated impact on all states and societies. (Correct). The effects of globalization are not uniform. Developed countries, with their strong institutions and financial power, are often better equipped to handle the challenges and leverage the benefits. In contrast, many developing countries may be more vulnerable to external pressures, and the benefits of globalization are often unevenly distributed within societies, leading to increased inequality.