THE GLOBAL ECONOMY

INTRODUCTION
A global economy is an economic interdependence established
between the most influential countries that drives the
worldwide economic environment. It is also the aggregate
economic output, movement and influence of all countries.
ABSTRACT

Food security is the measure of the availability of food

and individuals' ability to access it. impediments to
exports from developing countries worsen poverty in
those countries. Global inequality (also sometimes
referred to as international inequality) can be defined
as the unequal distribution of material resources and
income across countries.
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Food security
food security Global food security refers to providing enough food for everyone.
Therefore, it is a top priority for all nations, whether developed and developing. The
sustainability of civilization, including population increase, climate change, water
shortage, and agriculture, is also a function of food security The environment, however,
is arguably the most significant part of human existence connected to food security. The
difficulties with food security can be linked to environmental conservation. The
devastation is a serious issue for the environment. The environment and marine life
have significantly been destroyed as a result of industrial fishing. Additionally, there has
been a sharp reduction in both biodiversity and arable land
 The another significant environmental challenge is that of the decline in the
availability of fresh water. The destruction of the water ecosystem may lead to the
creation of "climate refugees" people who are forced to migrate due to lock of
access to water or due to flooding. Pollution through toxic chemicals has had a
long-term impact on the environment; the use of persistent organic pollutants,
greenhouse gasses, gasses that trap sunlight and heat in the earth atmosphere,
contribute greatly to global warming. Global warming poses a threat to the global
supply of food as well as to human health. Further fore, population growth and its
attendant increases in consumption intensity ecological problems. the global flow
of dangerous debris is another major concern, with electronic waste often dumped
in developing countries. There are different models and agenda pushed by
different significant to address the issue global food security.

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 One of this through:
Sustainability- the united nations has set ending hunger achieving food security and
improved nutritions and promoting sustainable agriculture has the second of its 17th
sustainable development goals.

The world economic forum- also addressed this issue through the new vision for
agriculture where in public-private partnership were stablished. The forum
initiatives were launched to establish cooperation and encourage exchange of
knowledge among farmers, government, civil society, and the private sector in both
regional and national levels.

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THE ECONOMIC GLOBALIZATION, POVERTY AND INEQUALITY
*The Swedish statician Hans Rosling one said, “the 1 to 2 billion poorest in the world who don’t have food for day
suffer from the worst disease globalization deficiency”
*“The way globalization is occurring could be much better, but the worst thing is not being part of it”
*Economic and trade globalization- is the result of companies trying to out maker their competitors.
*while you search for the cheapest place to make those place. They find the cheapest sources of feather, dye,
rubber,
and of course labor.
*The result is that the labor-intensive products like shoes are often produced in countries with the lowest wages
and
weakest regulations.
This process creates winner and losers:
*The winners include corporations and their stockholders who earn more profit. They also include consumers who get products
a
t a cheapest price.
*The losers are high wage works who used to make those shoes their jobs moved overseas.

A lot of workers are thrown into hazardous working conditions, but it is also true that many workers in developing countries are
at
least making more money. These jobs above average wages.
People want these jobs and although the pay would be unacceptable in developed countries, the are often best alternative.
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The multiple effect- means an increase in one economic activity can lead to an increase
in other economic activities.
Investing in local business- for instance investing in local business will lead to more
jobs and more income
Paul Krugman an American economist and public intellectual, who is Distinguished
Professor of Economics at the Graduate Center of the City University of New York, and
a columnist for The New York Times.
*Bangladesh is the apparel industry is going to consist of what we would consider
sweat shops or it won’t exist at all, and Bangladesh is particular really needs its apparel
industry its pretty much the only thing its economy.

The opponent economic globalization- not everyone agree this called the out search of
jobs as exploitation and oppression a form of economic colonialism that puts profits
before people.
*Exploitation- stands for the result of both an individual and also shared mental model
competitive pressure resulting from globalized economy on the other.
*Oppression- is the social act of placing severe economic restrictions on individuals,
groups pr institutions.
*Colonialism- lead to substantial outflow of financial resources it is best documented in
the case.
Protectionist policies – Like higher tariffs and limitations outsourcing, others focus on the foreign
workers themselves by demanding . They receive higher wages and more protection.

Economic Globalization – The root of many arguments against is that companies do not have to
follow the same rules they do in developed countries. Some developing countries have no minimum
wage laws.

Safe working – Provide safe working conditions or protect the environment. They do not have
regulations that provide safe working conditions. Although nearly every country bans child labor,
those laws are not always enforced.

Absence of regulation – it is still not possible that workers would not be horribly mistreated.

First public awareness is growing along with the pressure from the international community to take
steps to protect the workers.

For example, the United States of America produces an annual publication called the list of goods
produced by child labor or forced labor. If a company is from the that list, they are likely to bashed
by officials and the media.

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Awareness is the first step to improvement.

Pro-globalization – The second steps comes from those that support globalization set argues that as
developing economies grow. There are more opportunities for workers which lead to more
competition for labor and higher wages.

Economic globalization has helped millions of people get out of extreme poverty, but the challenge
of the future is to help in those in extreme poverty is to enable them to participate in the economy.

Global marketplace applies to developing countries in the individuals at the local level.

Bangladesh professor name Muhammad Yunud won in 2006 for the Nobel Peace Prize for
implementing simple data. He have small loans on average around $100 to low-income people in
rural areas.

Private leader governments – Organization have jumped on board to loan billions of dollars to the
worlds most advantaged.

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Microcredit by itself is not going to solve the problem of extreme poverty, but
supports the idea of enabling people to participate in the economy to make their
lives better.

Yunus(2016) explained “In my experience, poor people are the world’s greatest
entrepreneurs.

25 year old's have job wages and working conditions that would be unthinkable in
the developed world.

Economist say that it is all right but is progress that is very hard to achieve.

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GLOBAL INCOME INEQUALITY
· Globalization and inequality are closely related.
· We can see how different nations are divided between the North and South, developed and
less developed, and the core and the periphery. These differences mainly reflect one key aspect
of inequality in the contemporary world-global economic inequality.
There are two types of economic inequality:
« Wealth inequality
« Income inequality
1. Wealth inequality- It refers to the net worth of a country. It takes into account of all the assets of a nation-
may they be natural, physical, and human-less the habilities.
2. Income inequality- Is the new earnings that are constantly being added to the pile of a country’s wealth.
« When we talk about income inequality, we mean that new earnings are being distributed it values
the flow of goods and services, not a stock of assets (Economist 2012).

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« According to the Global Wealth Report 2016 by the Credit Suisse Research Institute, global wealth today is
estimated
to be about 3.5 trillion dollars and its not distributed equally. Counties like the
United states and Japan able to increase their wealth.
« The report should that income inequality continues rise. While the buttom half collectively own less than 1 percent
of
total wealth the wealthiest top 10 percent own 89 percent of all global assets.
« Branko Milanovic 2011 an economist who specializes in global inequality explained all this by describing an
economic big bang” wherein the industrial Revolution caused the differences among
countries.
« Through this “explosion” of industry and modern technology, some nations become economically developed while
others where developing.
« The Industrial Revolution that allowed a significant inequality in the past, economic globalization and
international trade
are the forces responsible in today's global income inequality. Many economists believe that the world's poorest
people
gained something from globalization.
« Hatvard econmist Richard Freeman (2011) noted,
“the triumph of globalization and market capitalism has improved living standards for bilions while
concentrating bilions
among the few”. (In other words, the poor are doing a little better and the rich are
becoming richer due to global capitalism).
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Access to technology also contributed to worldwide income
inequality. It complemented skilled workers but replaced many
unskilled workers. In modernized economies jobs are more
technology-based, generally requiring new skills. This is what
economists reffered to ad skill-based technological change. As
a result, workers who are more educated and more skilled
would thrive in those job by receiving higher wages. In
addition, manufacturing jobs that require low skills are moved
overseas.
thank you!