Globalisation and consolidation of dependency and underdevelopment in Africa
Globalisation is a process which transformed the world into a single political economy. Africa is one of the continents that is sharply affected by globalisation. This paper examined the impacts of globalisation in consolidating Africa's economic and political dependency and underdevelopment. T...
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| Format: | Article |
| Language: | English |
| Published: |
The Asian Institute of Research
2019
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| Online Access: | http://eprints.um.edu.my/38223/1/Globalisation%20_%20Consolidation%20of%20Dependency%20_%20Underdevelopment%20in%20Africa.pdf http://eprints.um.edu.my/38223/ https://www.asianinstituteofresearch.org/JSParchives/2-2 |
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| Summary: | Globalisation is a process which transformed the world into a single political economy. Africa is one of the continents that is sharply affected by globalisation. This paper examined the impacts of globalisation in consolidating Africa's economic and political dependency and underdevelopment. The problem is globalisation
comes up with many opportunities, especially for developing countries, but, Africa failed to utilize the opportunities. The paper is a conceptual paper which used secondary sources of data for analysis and interpretations. The work discovered that Africa found itself more caged in a circle of dependency and underdevelopment despite all the trade negotiations, open opportunities, and technological transfer. Thus, the paper suggested that Africa cannot exist in isolation especially in this wave of globalisation, but there is a need for an internal restructuring to accommodate diversities and complexities of external forces and balance them with internal advantages for local industrialisation, genuine regional integration, and intensive trade development. |
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