Sustainable Social Development in a Period of Rapid Globalization: Challenges, Opportunities and Policy Options

Synopsis

Globalization, the term used to summarize the increasingly complex interdependence among nations and societies in terms of financial flows, trade, industry and communication, has spurred economic growth and contributed to a reduction in poverty in the ESCAP region. The impact, however, has not been uniform and disparities in some areas has widened. To alleviate these negative aspects, this study calls for greater attention to social development. It argues that for economic development to continue, social development must be self-sustaining. For this to occur, adequate investment in human resources - the provision of education, health, shelter and sanitation - is required. The integration of social and economic policies to be integrated is considered necessary for either to be effective and sustaining.