SST1771-ABED_1: Chapter 2 Economic Globalization Today Introduction

To what extent does globalization lead to sustainable prosperity for all people?

Introduction: Challenges and Opportunities of Globalization

To what extent do contemporary economic globalization factors lead to challenges in expanding globalization?

Perspectives on Globalization

One theory of economic globalization is that through increased trade, everyone will become more prosperous. But prosperity means different things to different people. There is great inequality between nations today. Is globalization making all people richer? Or is it making some people richer and other people poorer? What other challenges and opportunities are created by globalization? A multitude of viewpoints on economic globalization exists as to the extent it allows all people to prosper as well as the sustainability of growth.

Source: Ricardo Stuckert/Abr

"We must ensure that the global market is embedded in broadly shared values and practices that reflect global social needs, and that all the world's people share the benefits of globalization."

- Kofi Annan

Mr. Annan joined the United Nations in 1962 as an administrative and budget officer with the World Health Organization in Geneva. One of Kofi Annan's main priorities as Secretary-General was a program of reform aimed at making the United Nations' international system more effective. He has always been a strong advocate for human rights, the rule of law, and the Millennium Development Goals, which had eight key development objectives to be achieved by 2015. The Millennium Development Goals were to:

create global partnership for development
reduce child mortality
eliminate hunger
achieve universal primary education
improve maternal health
promote gender equality and empower women
combat diseases such as HIV, and malaria
ensure environmental sustainability

Since leaving the United Nations, Kofi Annan has continued to press for better policies to meet the needs of the poorest and most vulnerable, particularly in Africa.

In this unit, you will consider why globalization has expanded so much over the course of recent history and how this has presented challenges for countries and cultures.

The focus question implies that globalization leads to sustainable prosperity for all people. Many people think of financial wealth when they think of prosperity, but there are other factors included. Since World War II, many organizations and thinkers have focused on the belief that financial success is the key to a better, more sustainable future.