Process whereby social relationships are established transcending national borders, primarily by subnational and supranational actors (beck: deterritionalization). Knezevic: characteristic of the past 40 years (cf. Sovereignty of developed nations is still significant, but presented as fluid for. Sovereignty of developing nations is eroded by the race to the bottom. It is developed by identifiable social actors: transnational corporations (tncs, supranational institutions (un, imf, wb, eu, nafta, gatt ) and, powerful states, in particular the united states and its allies, recently china. By the 1970s, the globalized world was composed of three parts: the capitalist first world, the socialist second world, the third world, divided into the us and su spheres of influence, later unified into non-aligned movement. During the 1980s, many third world countries experienced a crippling debt crisis. In 1989, the soviet union collapsed and the us was further enabled to spread neo-liberal policies.