Economic globalisation

👤 Bauman (2000): highlights a mobility divide between a globally mobile elite and a trapped poor majority. Global trade, TNCs, and digital finance integrate markets.
- Boosts growth in some areas but increases inequality and economic vulnerability.
👤 Sachs (2005) argues well-targeted aid can be effective, breaking poverty traps. 👤 Moyo (2009) warns aid can create dependency and reduce self-sufficiency.
International agencies (i.e. IMF, World Bank, WTO) shape macro rules. SAPs liberalise, cut spending, open trade.
- Can stabilise or damage social sectors and growth if procyclical. 👤 Stiglitz (2000) is critical, and 👤 Sachs (2005) argues for targeted investment.
South–South and triangular cooperation: knowledge, technology, and finance flows within the Global South, coordinated by the United Nations Office for South-South Cooperation (UNOSSC).
- Diversifies options, outcomes depend on governance.

Actor	Role	Positive Impacts	Negative Impacts
Transnational corporations (TNCs)	Invest Create jobs Transfer technology	Can boost GDP Provide infrastructure	Exploit labour Pay low wages Cause environmental damages
NGOs	Deliver aid Promote rights Fill state gaps	Flexible Community-focused	Can impose Western values Limited accountability
International agencies (IMF, World Bank, WTO)	Provide loans Promote trade liberalisation Implement Structural Adjustment Programs (SAPs)	Integrate economies into global markets	Undermine sovereignty Impose austerity Cut social services (👤Stiglitz, 2000)

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