Economic Globalisation
Origins and consequences
Few subjects are as controversial – and poorly understood – as globalisation. While in its broadest sense, economic globalisation is as old as trade itself, the recent financial crisis has amplified the complexity associated with the global interconnectedness of the world’s economies and its ramifications on our livelihoods.
This publication reviews the major turning points in the history of economic integration, and in particular the pace at which it has accelerated since the 1990s. It also considers its impact in four crucial areas, namely employment, development, the environment and financial stability: does globalisation foster development or create inequality? Does it promote or destroy jobs? Is it damaging to the environment or compatible with its preservation? Are we heading towards de-globalisation or can globalisation in fact enable recovery?
What is the impact of globalisation on the environment?
Globalisation helped accentuate the major environmental damages we’re experiencing today, even though it’s only indirectly responsible. Some national, regional and international policies have attenuated the negative effects of globalisation on the environment. Some solutions can also be found in the mechanisms of globalisation itself. But while vital, political regulations and incentives are still lacking compared to the breadth and urgency of the challenges ahead.
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