The nature of globalisation in the 21st century – fueled by post-war economic booms, sweeping global movements of liberalisation and freedom, and the rise of dominant multinational corporations – led to the ever increasing connected world and economy. previous 1 The other 69 entities were multinational corporations. Globalization and Sustainable Development: Case Study on International Transport and Sustainable Development Show all authors. The Impact of Triple Bottom Line on Sustainable Product Innovation: Human, Social, and Economic Antecedents for Sustainable Development: 10.4018/978-1-7998-4833-2.ch006: Developing the pathways that lead to sustainable innovation in SMEs represents an important aspect of the business world and society. The question, then, is: what future can we expect for globalisation, its impact on the economies we live in and the businesses that help drive these economies? Unfortunately, the uneven rate of population was matched with uneven economic growth, wherein developing economies with burgeoning populations, lagged behind industrialised nations in purely economic terms.24, This discrepancy resulted in a revival of the migrant waves of 19th century Europe. This had the additional consequence of increasing workers’ remittances – when migrant workers send money home, out of the country they’re working in – to an estimated US$466 billion, also in 2017.25. SDG 11 focuses on making cities and human settlements inclusive, safe, resilient and sustainable, tackling the environmental impact caused by growing urbanisation and reducing vulnerability to disasters. Others have seen it as a purely negative process, enriching the few while the many suffer.1. Visit our blog to see the latest articles. This volume answers that need. Globalisation and Sustainable Development Environmental Agendas. Competitive advantage refers to the ability of a country (or company) to produce a certain product or service more efficiently than others.28, Indeed, this change has led to a new prominence for the international trade of intermediary products, the building blocks of consumer goods (such as electronic components), as well as the turn towards specialised professional service, thanks to the distribution of competitive advantage – developing nations, for instance, will generally enjoy a competitive advantage in labour, allowing them to more easily produce often simpler intermediary goods.29 It has also had an effect on competition: in a globalised world, anyone with the necessary capital can enter virtually any market. The impact of FDI on development: globalisation of R&D by transnational corporations and implications for developing countries . Three major trends were identified by the UN Secretary-General’s October 2017 report on the topic:34, In order to tackle these challenges, business and governments will need to work in concert to reform and regulate the global economy, in order to stymie the historical tendency of globalisation towards unequal costs and benefits across regions. This has meant that many large companies are held in check, as even an apparent domestic monopoly may come under fire from beyond a country’s borders.30, International trade remains, therefore, the greatest driver of globalisation, as nations forge alliances based on trade concerns, affecting the supply of goods to and from that market, from intermediary products manufactured in developing economies, to sophisticated consumer goods. Cookie policy | 10. Abstract. In doing so, they have found that there is sufficient linkage to embed sustainable-development-goal impact targets into the design stage of an infrastructure project. Businesses have responded to each wave of globalisation by harnessing the technological developments presented to refine their strategy and increase growth. Impacts of international trade on global sustainable development A nation’s sustainability progress is not only dependent on deliberate actions within the nation, but also affected by hard-to-see consequences from interactions with countries hundreds or even thousands of miles away. Ultimately, this has a trickle-down effect on a host of other issues, including the societies which make up nations.31, Today, globalisation stands at something of a crossroads; the rise of modern nationalism, as exemplified by US president Donald Trump, favours an anti-immigrant, protectionist stance that also clearly stands against the principles of globalisation.32 At the same time, information technology has indeed brought us closer together than our forebears would have thought possible, globalising the trade of ideas – although, like all aspects of the process, this has been uneven in its spread and impact.33. Chapter 7 examines the impact of globalisation on the environment. These statistics highlight an aspect of globalisation that’s arguably been largely responsible for the groundswell in opposition to the concept. Yet, on the whole, the effects of globalisation on business have largely resulted in a long-term economic boom, with the global economy better off than ever before, even with the lingering effects of a still fairly-recent recession.27, International trade is arguably the greatest driver of globalisation…. Globalisation may help to make people more aware of global issues such as deforestation. Changes in … chapter 5 studies the impact on African societies from the of!, politics and the end of the 100 largest economic entities in the world trade.. Comparison of the world our latest blog articles results present a mixed picture regarding overall! Skills that are essential for either an academic or professional career in globalisation its... Themes are emerging: globalization has impacted people and communities across the globe and significantly! 30 percent arguably been largely responsible for the groundswell in opposition to economic. 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