Ultimately environmental governance in the global economy will likely require reducing demand and using financial instruments, such as corrective taxes on fuel, to curb consumption Eskeland, The following sections provide an overview of the global economy and the global environment. These sections will serve as a foundation for later discussions about the three main ways that the global environment is managed and protected in the global economy: Examples of global environmental managementincluding the United Nation's Earth Summit, the Kyoto Protocol, and Organization for Economic Co-operation and Development's environmental efforts will be described and analyzed.
The global economy is characterized by growth in populations and in output and consumption per capita, in interdependence of nations, and in international management efforts. Indicators of global growth and interdependence include the huge increases in communications links, world output, international trade, and international investment since the s. The global economy is built on global interdependence of economic flows that link the economies of the world.
The global economy is characterized by economic sensitivity. National economic events in one region often have profound results for other regions and national economies. National economies exist not in isolation but in relationship and tension with other economies worldwide. The global economy includes numerous economic phenomena and financial tools shared among all countries. Examples include the price of gold, the price of oil, and the related worldwide movement of interest rates.
The new global economy is characterized and controlled through global management or governance efforts. International organizations, both public and private, work to establish norms, standards, and requirements for international financial governance. These international organizations, including the G, Financial Stability Forum, the International Organization of Securities Commissions Organization for Economic Co-operation and Development OECD , and the Basel Committee on Banking Supervision, develop and encourage implementation of standards, principles, best practices, and economic architecture Preston, The global environment encompasses the global climate, human use of resources particularly resources that have become accessible only as a result of technological innovation and advances , and cross-border effects the environmental concerns arising in different parts of the world involve more than one political jurisdiction Preston, Environmental problems entered public and political consciousness in the s.
In , the United Nations Conference on the Human Environment, held in Stockholm, established a connection between economic growth and environmental degradation. The relationship between economic development, poverty, and environmental degradation has been researched in depth since the late twentieth century.
In the United Nation's Earth Summit brought environmentally sustainable growth into the public's consciousness. Sustainable development has been championed by many environmental organizations that recognize the importance or inevitability of worldwide economic growth. Traditional notions of sustainable development are being challenged by economic globalization. National environmental regulatory controls are increasingly ineffective when faced with increased trade integration, capital mobility, technological innovation, and changes in production.
Global environment stakeholders debate how best to protect the global environment in the context of economic globalization. Economic globalization, which challenges traditional regulatory approaches to environmental protection, requires new environmental governance approaches. Economic globalization empowers international economic and environmental organizations to create environmental policy rather than the local governments, where environmental efforts have traditionally been developed Conca, In the global economy, the environment is managed and protected in three main ways: Corporations are responding to stakeholder and shareholder concern for the environment by incorporating environmental ethics into their corporate activities and business practices.
A form of corporate social responsibility, the most prominent and common voluntary effortsinclude lifecycle analysis, industrial ecology, design for disassembly, and strategic alliance.
Since most of the developed nations want to take advantage of the smaller ones, so there should be international laws to protect them. Those laws should be enforced to show the developed nations that they do not want to take advantage of them. There should be more laws like the fair trade agreement to help these developing nations, so that they can see that not only do they want to trade with them but also help them improve their economy. This will also help convince the farmers to trade with the developed nations.
The problem is not to put these laws in place but to enforce the laws. An example is Colombia that has these laws that protect their coffee growers and their gem miners, but they are not enforced because this etching still happens in Colombia.
I think that these laws should be more favored than any other, because these laws not only protect a country but also protect innocent people. It also helps the protection of developing nations against monopoly. Policies, which should be favored more than others should Free trade agreements have policies that need considerations in terms of affects they have on developing countries. These agreements ought to have equal terms of service that favor the developing countries.
S, Mexico, and Canada. Investors from Mexico who wish to invest in the U. S find tougher terms than those who wish to invest in Mexico. S investors but discourages Mexican investors from investing in U.
When Mexico, Canada, and U. The gap in these percentages ought to be wider in favor of the Mexicans Krauss, Policies that need avoidance.
Some policies need avoidance because of their negative impacts on the economy of developing countries. Although trade between developed and less developed countries has a positive influence the economy of the less developed countries, strict measures need enforcement to protect developing countries. An example is export of raw materials to developed countries. Measures should be put in place to reduce the level of exportation of raw materials to international companies.
Exportation of such materials leads to the developed countries retaining most of the output funds, generated by the materials. This deprives the less developed countries an opportunity to increase their economy through profits and industrial job.
Therefore, measures should be put to ensure that investors set their processing industries in developed countries and process the materials within such countries. This prevents cash flows to developed countries Krauss, Intellectual rights should also be minimized in developing countries. An example is the pharmaceutical rights that prevent production of generic drugs in developing countries, thus, preserving the rights for the country of origin.
Such policies ensure that developing countries remain uncompetitive in the pharmaceutical field, thus, derailing its development. Measures should be put to ensure that trade agreements do not favor only the wealthy in developing countries. Such measures should counter corruption and ensure equal opportunity, thus, increasing the rate of economic growth Krauss, Custom Global Economy Essay Writing Service Global Economy Essay samples, help The definition of developing countries along with their characteristics forms two ways of determining whether a country is under developed or a developing nation.
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- The Global Economy The global economy and global environment are bound up with one another. Environmental change is a consequence of economic development. Environmental change and its consequent health impacts are driven by economic growth, population growth and urbanization.
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The global economy is a complex and multi-faceted system. When one variable changes, such as a dramatic increase in the New Zealand dollar, the spin-off effects can be detrimental to some while increasing the wealth and living-standard of others. The global economy and global environment are bound up with one another. Environmental change is a consequence of economic development. Environmental change and its consequent health impacts are driven by economic growth, population growth and urbanization.
Global Economy Essay The global economy refers to the increasing economic interdependence of the countries and regions of the world. The most recent form of the global economy emerged in the s as a result of advancements in information technologies combined with expanding neoliberal, political-economic philosophies and . The Global Economy THE GLOBAL ECONOMY FEATURES OF THE GLOBAL ECONOMY Nature of the global economy and globalisation The global economy/world economy consists of all the countries of the world that contribute to gross world product through the production of goods and services.