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Globalisation means that for a high-wage, developed economy like Britain's to compete we need to focus our efforts on the highly skilled, added-value sectors such as advanced manufacturing, creative industries, engineering and even financial services.

Globalised manufacturing and procurement mean that a lot of high-polluting, heavy duty jobs are transferred to China. We will ask major companies, such as Wal-Mart, Microsoft and IBM to put pressure on their Chinese suppliers.

Firstly, economic globalisation has brought prosperity and development to many countries, but also financial crises to Asia, Latin America and Russia, and increasing poverty and marginalisation.

There is going to be globalization, but we need to do it under terms - under rules that work as rules work for our domestic economy on the dynamic of capitalism. You need to do trade in the same way.

Globalization is a fact of economic life.

Greening the globalised manufacturing and sourcing will be the single biggest help multinationals could make to the tough pollution control in China and other developing countries.

During the boom years of the 1990s, globalization emerged as the most significant development in our national life. With NAFTA and the Internet and big-box stores selling cheap goods from China, the line between national and international began to blur.

Even as China's growth slows, it will continue to be a powerhouse for the global economy.

While big business gain subsidies and political access, small businesses drown in red tape, and individuals now risk being classified as terrorists for complaining about it. Economic globalisation is about homogenising differences in the worlds' markets, cultures, tastes and traditions. It's about giving big business access to a global market.

For us to grow globally, it's not enough to just be an exporter. We have to be a creator.