International Law as a Means of Globalization, Business Internationalization and Global Economy: A Mechanism with Proclivities

International Law as a Means of Globalization, Business Internationalization and Global Economy: A Mechanism with Proclivities PhD. student Anis BENABED1 Abstract This paper analyzes, describes and presents the relationship and effects between globalization and the international law. Historically, between globalization and international law, there is a dialectical relationship, both have been intertwined for more than the end of the twentieth century and the last phase of globalization. Globalization has come up with major changes at the international level and distribution of power between different actors of the international society. It has impacted and shaped the World Wide system of law with implicit ambitions. The research questions are: “Are there any interconnection between international law, globalization and internationalization? How does international law affect global economy?” The used methodology of research focused on a literature review, the United Nations charter of international law and qualitative descriptive analysis. The results show that doing business with individuals from other nations focuses on the activities of individuals that are governed with the context of global economy starting from the applicable rules to industries in the home country or nation. International law provides a background, assurance, confidence and a means or mechanism by which individuals can trade or do business with regard to goods and services, to start with the utility of law is based upon first international relations, and the way countries relate to each other, particularly with regard to trade of goods and services between those nations. Doing business with individuals from other nations focuses on the activities of individuals that are governed with the context of global economy starting from the applicable rules to industries in the home country or nation. In Conclusion, international law has got a high contribution to the insights of global economy, globalization and internationalization processes especially for companies. There is a huge interconnection between Globalization, Internationalization that is important for global economy and international law. Keywords: globalization, international law, internationalization, companies, economy, global. JEL Classification: F50, F53, F60, K33 DOI: 10.62768/PLPA/2024/13/1/17 Please cite this article as: Benabed, Anis, „International Law as a Means of Globalization, Business Internationalization and Global Economy: A Mechanism with Proclivities”, Perspectives of Law and Public Administration 13, no. 1 (March 2024): 159-166 Article History Received: 16 November 2023 Revised: 19 January 2024 Accepted: 20 February 2024 1. Introduction Historically, between globalization and international law, there is a dialectical relationship, both have been intertwined for more than the end of the twentieth century and the last phase of globalization. Globalization has come up with major changes at the international level and distribution of power between different actors of the international society 2. It has impacted and shaped the world wide system of law with implicit ambitions. Globalization is not only identified with scientific and technological advances, above all in communications, which afford commercial and financial exchanges in order to achieve the 1 Anis Benabed - Doctoral School of Economics and International Business, Bucharest University of Economic Studies, Romania, . 2 See in this regard: Backer, L.C., (2007) Economic globalization and the rise of efficient systems of global private law making: Walmart as global legislator, „Connecticut Law Review”, 39 (4), p. 17; Benabed, A. (2022) Overhanging the future socio-economic aspects through the consequences of globalization and international law, „Perspectives of Law and Public Administration”, 11(1), p. 165-168. Retrieved from: https://www.proquest.com/scholarly-journals/overhanging-future-socio-economic-aspects-through/docvie w/2670468993/se-2; Bradford, A., Posner, E. (2010) Universal exceptionalism in international law, „Public Law and Legal Theory”, p. 290; Chang, S.J. and Rosenzweig, P.M. (2001), The choice of entry mode in sequential foreign direct investment, „Strategic Management Journal”, Vol. 22, No. 8, pp. 747-776. Perspectives of Law and Public Administration Volume 13, Issue 1, March 2024 160 implementation of the free market for interdependence, but also it deals with International Law, that regulates situations of conflict and cooperation, originated or produced by this economic and social phenomenon, which many rightly reject due to the implicit injustices of the free market, the product of savage capitalism, and fight for the implementation of a radical reorientation of objectives of trade towards social justice and the definition of norms and applicable values to trade policies and democratization of international institutions on behalf of all affected parties (fair trade, with preferential or exceptional treatment for developing countries, which contemplates an adjustment equitable prices), there are conventions on climate change, human rights that must be strengthened, transnational criminal activities, human trafficking,... etc. and fundamental freedoms, includes and focuses on the right to development, and thus to achieve an effective and real functioning of the world economy and the fight against international crimes through the institutionalization of justice bodies. Globalization is the economic, technological, political, cultural and social process at the international level that consists of the raise of communication and independence between nations of the world that unite their markets, societies and cultural environment, a series of social and political transformation that give it a global character. The modern term of international law was invented by Jeremy Bentham in 1789 and established itself in the 19th century. International law is a broad term, split up into private and public, the relationship between sovereign powers starts with the respect to public International law and they are guided by some form of agreements, or a treaty between these nations, or the nations are the collective signatories to some larger international bodies such as the United Nations. On the other hand, private International law is applicable when individuals from different nations interact in some way and this generally in the form of business transactions, the buying and selling of goods and services. Internationalizing a company is the process by which the organization creates the necessary conditions to operate in the international market 3. In fact, more and more companies tend to relocate and direct their strategy abroad, it is a process that requires conviction, commitment and willpower. 2. Methodology and research question The research questions are “Are there any interconnection between international law, globalization and internationalizatio (...truncated)