Globalization in the 21st Century
What is globalization? More than ever before, groups and individuals are interacting directly across borders without involving the state. This happens partly due to new technology and partly because states have found that prosperity is better secured by releasing the creative energies of their people than by restricting them.
The benefits of globalization are obvious: faster growth, higher standards of living, and new opportunities. However, globalization's benefits are very unequally distributed; the global market is not yet underpinned by shared social objectives, and if all of today's poor follow the same path that brought the rich to prosperity, the earth's resources will soon be exhausted. The challenge we face is to ensure that globalization becomes a positive force for all people instead of leaving billions in squalor.
If we are to get the most out of globalization, we must learn how to provide better governance at the local, national, and international levels. We must think afresh about how we manage our joint activities and our shared interests, since so many challenges that we confront today are beyond the reach of any state acting on its own.
This should not be seen as a future of world government or the eclipse of nation-states. On the contrary, states will draw strength from each other by acting together within the framework of common institutions based on shared rules and values. Governments must work together to make these changes possible, but governments alone cannot make them happen. Much of the heavy lifting will be done by private investment and charitable foundations.
The best ideas, however, will come from nongovernmental sources: from academic researchers, nonprofit organizations, business, the media, and the arts. These elements compose civil society, and they have a vital role to play.
At the UN Millennium Summit in September 2000, world leaders resolved to halve three figures: the number of people whose income is less than one US dollar a day, the proportion of people who suffer from hunger, and the proportion of people who are unable to reach or afford safe drinking water. They resolved to accomplish these goals by 2015. History will judge this generation by what it did to fulfill that pledge.
Success in achieving sustained growth depends on expanding access to the opportunities of globalization. That in turn depends in large measure on the quality of governance a country enjoys. Countries can only compete in the global market if their people benefit from the rule of law, effective state institutions, transparency and accountability in the management of public affairs, and respect for human rights. …