The economic policies, adopted and enforced globally by the industrial powers are described by globalization and liberalization after collapse of the socialist block and became dominant in the entire Western world. Journal of Economic Growth 6 (1): 5–37. While also being applauded, economic globalization has created groups of winners consisting of multinational corporations and rich countries, with losers being developing governments and their citizens. The Sustainable Development Goals are a call for action by all countries – poor, rich and middle-income – to promote prosperity while protecting the planet. As has been noted, the tendency of the scale of economic organization to reach beyond the scale of political INTRODUCTION. In this sense, globalization and sustainable development have evolved as two sides of a common vision of our future. The world economy is witnessing a new wave of economic globalization, defined as the integration of the world's economies through an increasing array of bilateral and multilateral, regional trade and investment agreements.Many governments are also unilaterally reducing the role of the state in economic affairs. Economic globalization impacts the environment and sustainable development in a variety of ways and through a multitude of channels. 2001. 1. Dec. 11, 2020. Global income divergence, trade, and industrialization: The geography of growth take-offs. Top 10 blogs in 2020 for remote teaching and learning; Dec. 11, 2020. Virtual holiday party ideas + new holiday templates; Dec. 11, 2020 Pyle, in International Encyclopedia of the Social & Behavioral Sciences, 2001. INTRODUCTION TO SUSTAINABLE DEVELOPMENT - Globalization, Interdependence and Sustainability - Robert Paehlke ©Encyclopedia of Life Support Systems (EOLSS) overwhelm political life organized on the basis of nation-states. Economic globalization has become the most important feature and a general trend of present world economic development. ECONOMIC GLOBALIZATION COMMUNICATION TRANSPORTATION TRADE ... (2008) Canada pass the Federal Sustainable Development Act SUSTAINABLE DEVELOPMENT 18. Blog. Baldwin, R., P. Martin, and G. Ottaviano. The last decade of the last century coined two strategic terms, Globalization and Liberalization which stand more than any other term for the global economic development. Globalization is the process of increased interconnectedness among countries. 1 Definition and Context. Economic globalization involves a wide variety of processes, opportunities, and problems related to the spread of economic activities among countries around the world. J.L. Abstract. 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