Globalization and Global Governance

Globalization is not a new phenomenon. Crusades and other forms of proselytizing spread faiths and cultures over the planet. Colonization was a less disguised approach of imperialism and exploitation of the natural wealth of ‘undeveloped’ countries [FR 1.2]. What changed towards the end of the last century is the reach, speed and intensity of global interaction and interdependence among countries and their citizens.

Globalization has been blamed for the failure of achieving sustainable development; others argue that it may facilitate such development. After examining the claims and counter-claims about the effects of globalization, this chapter discusses what should be done about it. The World Trade Organization (WTO) has become the rallying point of the anti-globalization movement. Greening the organization or creating countervailing power represent the range of suggestions for curbing WTO’s trade liberalism.