The Global Economy

The United Nation (UN) tried to address the different
problems in the world. Their efforts were guided by Trade Liberalization

the eight Millennium Development Goals, which they - Government intervention to promote
created in the 1990s. domestic production.
o the eradication of extreme poverty and
hunger Quotas:
o achieving universal primary education - Limiting the amount of imports to protect
o promoting gender equality and women domestic industries
empowerment Tariffs:
- Taxes on imports to make them more
o reducing child mortality
expensive than domestic good.
o improving maternal health
o combating diseases like HIV /AIDS and Protectionism
malaria - Free movement of goods and services with
o ensuring environmental sustainability minimal government intervention.
o having a global partnership for development
Free Trade Agreements (FTAs)
In the Philippines, a person is officially living in - Agreements between countries to eliminate
poverty if he makes less than 110,534 pesos a year, or reduce tariffs and other barriers to trade.
around 275 pesos a day. This is called the poverty
line or poverty threshold. But we are going to focus on Impact of Technology
extreme poverty which, according to UN (2015), is a
condition characterized by severe deprivation of basic • Technological advancements (transportation &
human needs including food, safe drinking water, communication) facilitate global trade:
sanitation facilities, health, shelter, education, and
information. The UN defines extreme or absolute Reduced transportation costs:
poverty as living on less than $1.25 a day. The • More efficient shipping and logistics enable faster
organization aims to eliminate extreme poverty for all and cheaper movement of goods
people by 2030.
Enhanced communication:
The UN (2015) reported that 836 million people still • Information technology platforms connect
live in extreme poverty but that is down from 1.9 businesses and consumers across borders, fostering
billion, so there is success or at least a lot of international trade transactions.
progress. The World Bank predicted that by 2030 the
number of people living in extreme poverty could drop Banking & payment access:
to less than 400 million. Of course, that assumes Financial inclusion promotes economic participation
everything will keep improving as it has been. and trade opportunities.
However, climate change has to be considered since
it is a threat to these improvements in global poverty. Education & information access:
• Enables knowledge sharing and skill development,
enhancing export o potential.
Economic Globalization?
- Increasing interdependence of world Improved agricultural practices:
economies through cross-border trade, • Access to information and technology improves
capital flow, and technology spread. efficiency and productivity in agriculture, contributing
to global food security.
CAPITAL FLOW:
- Movement of investments and financial
resources across borders.
Technology spread:
- Sharing and adoption of
technological advancements throughout the world.
CROSS-BORDER TRADE:
Exchange of goods and services between different
countries.
Winners and Losers in Globalization
TECHNOLOGY SPREAD: Some countries, especially developing ones, benefit
Sharing and adoption of technological advancements more than others:
throughout the world.
Increased export opportunities: As deforestation, pollution. and climate change. The
Access to larger markets and higher revenue increasing production of goods poses a threat to the
potential. planet's delicate ecological balance.
Foreign investment:
Inflow of capital fuels economic growth and Environmentalists' View
development.
Environmentalists prioritize environmental
Job creation: issues over economic concerns and emphasize the
Export-oriented industries generate employment environmental damage associated with free trade.
opportunities.
Neoliberal Perspective
Challenges for developing countries:
Neoliberals perceive environmentalist efforts as
Unequal competition: hindrances to trade expansion, emphasizing the
Difficulty competing with established economies. importance of economic growth. However, some seek
to integrate ecological modernization theory into
Exploitation of labor and resources: globalization processes for environmental protection
Risk of unfair labor practices and environmental and enhancement.
degradation.
Challenges in Climate Change Action
Vulnerability to economic shocks:
Dependence on global markets can magnify external Efforts to address climate change face resistance
economic fluctuations. from governments and corporations, hindering the
implementation of measures like "carbon tax" and
Fair trade aims to address inequities. finding alternatives to fossil fuels. Corporate
momentum is gradually building to address
Better prices for producers: environmental issues.
Ensures farmers and workers receive fair
compensation for their products. Global Approach to Environmental Issues
Environmentally sound practices: Need for a Holistic View

Promotes sustainable farming methods and protects
the environment. Addressing environmental issues requires a global
perspective to avoid overlooking impacts in certain
Safe working conditions: regions and to focus on the root causes of problems
Upholds labor rights and ensures safe such as global warming.
Global trade has significant downsides, particularly its Technological Fixes

impact on sustainability. Sustainable development
seeks to strike a balance between economic growth Instead of addressing the causes of global warming,
and preserving the earth's resources for future some interest exists in "technological fixes" like
generations. The relationship between globalization geoengineering, signaling a shift toward innovative
and sustainability encompasses economic, political, solutions for environmental preservation.
and technological dimensions, presenting both
opportunities and challenges. FOOD SECURITY
Efficiency The demand for food will be 60% greater than it is

today and the challenge of food security requires the
The cycle of efficiency brought on by economic world to feed 9 billion people by 2050
development harms the planet through increased (Breene,2016)
carbon emissions, destruction of marine biodiversity,
and deforestation. GLOBAL FOOD SECURITY
The growing global Global food security means delivering sufficient food
economy has led to a surge in demands for consumer to the entire world population.
goods, further straining the environment.
major environmental problem destruction of natural
Impact of Industrial Revolution habitats, particularly through deforestation
(Diamond, 2006).
The industrial revolution accelerated economic
development, leading to environmental damage such Industrial fishing has contributed to a
significant destruction of marine life and ecosystems
(Goldburg, 2008)
Another Significant environmental challenge is that of

the decline in the availability of fresh water (Conca,
2006).
(RITZER, 2015)
The poorest areas of the globe experience a
disproportionate share of water-related problems. The
problem is further intensified by the consumption of
"virtual water," wherein people inadvertently use up
water from elsewhere in the world through the
consumption of water-intensive products.
The destruction of the water ecosystem may lead to

the creation of "climate refugees, people who are
forced to migrate due to lack of access to water or
due to flooding" (Ritzer, 2015)
Pollution through toxic chemicals has had a long-term

impact on the environment. The use of persistent
organic pollutants (POPs) has led to significant
industrial pollution (Dinham, 2007)
Greenhouse gases, gases that trap sunlight and heat

in the earth's atmosphere, contribute greatly to global
warming. In turn, this process causes the melting of
land-based and glacial ice with potentially
catastrophic effects (Revkin, 2008)
Ultimately, global Warming poses a threat to the

global supply of food as well as to human health
(Brown, 2007).
There are different models and agenda pushed by

different organizations to address the issue of global
food security. One of this is through sustainability.

The Global Economy

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The Global Economy

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The United Nation (UN) tried to address the different

problems in the world. Their efforts were guided by Trade Liberalization

Environmentally sound practices: Need for a Holistic View

Global trade has significant downsides, particularly its Technological Fixes

Efficiency The demand for food will be 60% greater than it is

Another Significant environmental challenge is that of

The destruction of the water ecosystem may lead to

Pollution through toxic chemicals has had a long-term

Greenhouse gases, gases that trap sunlight and heat

Ultimately, global Warming poses a threat to the

There are different models and agenda pushed by

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