Geoeconomic issues is a term used to describe global trend
s in the twentieth century
. It recognizes that human societies' struggle to satisfy their basic needs without destroying their resource base or their natural habitat. Ultimately, geoeconomics involve an understanding of the globalization
and the balance between economic
s and the environment
Geoeconomic issues contrast with geostrategic competition. Whereas geoeconomic trends have to do with the world's economy and the conflicts between nations over trade, goods, and money, geostategic competition has to do with the rivalry between nations on issues of military and political power. Both of these trends become important in the twentieth century as communication and transportation technology makes the world a smaller place.