Introduction
To many people, the world and society are at risk due to the existence of dynamics that influence varied aspects of development. In the modern world, there are different elements that define social, economic, and political dynamics as indicated by studies and reports from financial institutions, as well as economic organizations that monitor every perspective of the global economy. Although globalization is an essential component for world development, it has challenges that are posing risks thus the need for their consideration by the concerned parties. Some of the risks are derived from fundamental elements such as economic factors, ecological systems, and global security issues.
Some experts argue that globalization does not necessarily create a world that is harmonious and peaceful because the constituent processes are interconnected and intricate. With time, the dependent systems have created complex relations and international working protocols that have constantly defined the formation of democratic economic activities. In spite of the benefits derived from globalization, violent conflicts, the rise of international terror activities, and other forms of political activities that lead to hate crimes characterize the world. These elements have created the perception that globalization is not about economic development but involves consideration of cultural, social, and political processes.
In fact, Roberts and Forsyth (25) state that globalization has ushered a new phase of modernity although reflexivity, paradoxes, and various forms of risks characterize it. This can be based on the fact that nations tend to globalize democracy as mankind has constantly sought rationality, science, and progress in accordance with the dominant situational factors. In the process, the globalization process has introduced many non-democratic consequences in the society thus the increased amount of risks. In this case, the risks can be ...