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Every adverse development across the world affects the rest of the world in some way.

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.

The global community has become irreversibly interdependent, with the constant movement of people, ideas, goods and resources.

Globalisation has made us more vulnerable. It creates a world without borders, and makes us painfully aware of the limitations of our present instruments, and of politics, to meet its challenges.

The world is a place that is so interconnected that what happens in another part of the world will impact us.

Globalisation will make our societies more creative and prosperous, but also more vulnerable.

Globalization creates economic policies where the transnationals lord over us, and the result is misery and unemployment.

Some global hazards are insidious. They stem from pressure on energy supplies, food, water and other natural resources. And they will be aggravated as the population rises to a projected nine billion by mid-century, and by the effects of climate change. An 'ecological shock' could irreversibly degrade our environment.

The miserable failures of capitalist economies in the Great Depression were root causes of worldwide social and political disasters.

It is not an accident that developing countries - virtually the whole of East Asia, for example - view the role of the state in a far more interventionist way than does the Anglo-Saxon world. Laissez-faire and free markets are the favoured means of the powerful and privileged.