Abstract
The paper discusses the characteristics of globalization as scientific and technological process and of globalism as paradigm of the new world order. It proceeds from their historical origins, from ancient times to their medieval development, and to their modern manifestation forms on a global scale. Using the qualitative analysis, the author established multiple negative effects of globalization as a model of neoliberal imperialism on the sovereignty of nation-states and their financial and economic independence. In the 20th century, transnational corporations became the main economic and financial entities globally. They dictate the rules of functioning in contemporary international economic and financial institutions and intergovernmental relations, and, thus, have a direct effect on the decline of importance and role of nation-states and national economies.
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