from Part II - Sustainable Development: Challenges and Opportunities
Published online by Cambridge University Press: 23 December 2021
The phenomenon of globalization has been spurred by geopolitical upheavals, including the collapse of the Soviet Union, the obvious presence on the global stage of a single superpower, the appearance of strong economic groupings, and the current activities against what is termed terrorism, as well as technical progress, particularly in the field of information and communication technologies and genetic engineering. Spurred by all this, the phenomenon of globalization has accelerated with the free movement of capital and goods, the general adoption of the Western model, the decreased power of governments in relation to that of multinational corporations and even of non-government organizations (NGOs). The World Trade Organization (WTO) is now taking decisions affecting the global environment and that of individual countries, sometimes even ignoring existing multilateral environmental agreements. There are also rising social and economic expectations and changing consumer preferences everywhere. The paradigm of sustainable development, with its social, economic, and environmental components, has been formally adopted worldwide.
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