Globalization, marginalization and regionalization in the world economy. Widening the gap between the rich and the poor. Convergence- seen in the form of increased world trade, and financial flow, regional economic integration, bilateral fta between states and the wto. Divergence-persistence of trade disputes, the division of the world into trade blocs, imbalanced investment flows and the vastly different life experiences of low-income people from those of economic elites. Prominent reality of the growing health, life and education gap. More emphasis on the changing roles of women in the world economy and environmental problems. From theory to practice in the contemporary global economy. Global economy based largely on the liberal economic theory. Marxists reject mercantilist and liberal diagnostics and prescriptions: these interpretations are seen as mere shadows or reflections of the real structure of economic power: characterized by the spread of world capitalism- exploit the poor.