Globalization In The 21st Century: Economic, Social, And Environmental Perspectives
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Abstract
Globalization in the contemporary world has been at the forefront in encouraging increased levels of economic liberalization, cultural interactions and technology. This research paper aims at discussing the economic, social and environmental effects of globalization in order to understand the various aspects of this phenomenon. The paper analyses the main global indicators of 2000-2020, such as GDP, international trade, income distribution, migration, CO2 emissions, deforestation, and loss of biological diversity. It is evident from the study that globalization has brought economic growth and enhanced trade but at the same time has deepened income disparities and social friction. Despite the economic benefits of migration, the issue has also resulted in social inequality in both the countries receiving immigrants and those that the immigrants have left. In terms of the environment, globalization has negative impacts, such as increasing greenhouse gases, shrinking forest cover and loss of bio diversity. Therefore, the paper establishes that, although globalization offers many opportunities, it also offers important challenges, especially for developing countries and the global environment. The study therefore calls for improved economic paradigms, better social safety nets, and increased international cooperation on climate change and related issues. It is thus imperative to address these challenges in order to build a better and fair world in a more globally connected world.
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