Question

China and the Global economy:

What do you think are the reasons why inequality has rapidly increased during the process of globalization in many industrialized and emerging countries and do you think there are measures that should be introduced at the international level to address inequality?

Answer 1

Globalization means the way the countries and people of the world interact and integrate.Many things have become globalized as people come into contact .Economic globalization is how countries are coming together as one big global economy making international trade easier.Technological developments and progress in communication and transport technologies have reshaped the way we interact.While globalization encompasses a number of different aspects, in this course the focus is primarily on economic globalization and its impact on international trade.We live in unequal world in which descriptors of global inequality especially inequalities in income abound.Globalization has intensified flows of goods ,finance,people and political cultural interactions all across our planet.Understanding the nature of , and linkages between globalization and inequality is crucial because disparities abound in access to needs such as shelter,land ,food and ,clean water, sustainable livelihoods ,technology and information.Inequalities  in all of these realms pose challenges to human security and environmental sustainability.