1.

Economic globalization and global trade

Economic globalization broadly refers to the increasing integration of national economies

around the world, particularly through trade and financial flows. Economic globalization involves
trade in goods and services, capital flows and trade in assets, the transfer of technology and
ideas, and international flows of labor or migration. Global trade allows countries to expand their
markets and access goods and services that otherwise may not have been available
domestically. As a result of global trade, the market is more competitive. Furthermore, Global
trade allows wealthy countries to use their resources more efficiently. Different countries are
endowed with different assets and natural resources. This allows some countries to produce the
same good more efficiently; in other words, more quickly and at a lower cost. Therefore, they may
sell it more cheaply than other countries. If a country cannot efficiently produce an item, it can
obtain it by trading with another country that can. This is known as specialization in international
trade.

2.Economic globalization and sustainable development

Globalization has important impacts on the environment, that must be considered in order to achieve
sustainable development. Environmental issues have gained center-stage in economic analysis and
policy-making, and their urgency has opened new opportunities in terms of technological innovation
and entrepreneurship. In response to the effects of globalization, a truly human and world-wide
conception of sustainable development enables us to be more aware of the risks faced by
humankind and the planet, and shows that a global and concerted form of regulation is both
necessary and possible, thereby challenging the pre-eminence of economic arguments and thinking.

3.Environmental degradation
Environmental degradation is one of the largest threats that are being looked at in the world
today. Environmental degradation is the deterioration of the environment through depletion of
resources such as air, water and soil; the destruction of ecosystems; habitat destruction; the
extinction of wildlife; and pollution. It is defined as any change or disturbance to the environment
perceived to be deleterious or undesirable. Ecological effect or degradation is created by the
consolidation of an effectively substantial and expanding human populace, constantly expanding
monetary development or per capita fortune and the application of asset exhausting and polluting
technology.

4.Food security

Food security is the measure of an individual’s ability to access food that is nutritious and
sufficient in quantity. Some definitions of food security specify that food must also meet an
individual’s food preferences and dietary needs for active and healthy lifestyles.

Different levels of food security:

Availability - Availability simply refers to the existence of food within a community. This is closely
linked to the efficacy of food production.
Access - Simply having enough food in a community means very little if there is poor access to it.
True food security means that individuals have the resources they need to obtain a sufficient
quality of nutritious food.

Utilization - Not all food is of equal or sufficient value. To be food secure, it is crucial that the
food being accessed is of a good quality.

Stability - Good food stability means that access, availability and utilisation of food remains
relatively stable over time. It is important to try to minimise any threats to this stability.

5.Economic globalization, poverty and Inequality

On optimist view, Globalization proponents advocate that poverty is on the decline, due
principally to the powers of globalization and the development it causes. In other words, these
proponents accord great importance to globalization as a main and pertinent engine of growth
and in the battle against poverty. It has then been further argued that the growth made possible
through globalization has had a beneficial effect on world poverty, and evidence seems to
suggest that the more liberalized an economy is, the quicker the rate of progress will be.

On pessimist view, The United Nations (2005) stated that though some parts of the world have
experienced unprecedented growth and improvement in living standards in recent years, poverty
remains unshakable and much of the world is trapped in an inequality situation. In particular, they
see transnational firms as gaining a lopsided amount of both political and market power. Critics of
globalization are also steadfastly of the opinion that firms will use their increased power in ways
that profit themselves and harm the poor.

6.Global income inequality

Income inequality, in economics, significant disparity in the distribution of income between

individuals, groups, populations, social classes, or countries. Income inequality is a major
dimension of social stratification and social class. It affects and is affected by many other forms of
inequality, such as inequalities of wealth, political power, and social status.

7.Global City

A global city or world city are a concept which postulates that globalization can be broken down in
terms of strategic geographic locales that see global processes being created, facilitated and
enacted. The most complex of these entities is the "global city", whereby the linkages binding a
city have a direct and tangible effect on global affairs through more than just socio-economic
means, with influence in terms of culture, or politics.