Some Notes on How Africa May Benefit From Globalization

Abstract

Today, the whole world has increasingly come together with the development of science and technology. The rapid growth of information technology and modern transportation systems have made production, distribution, trade and investment more integrated. This integration and interdependence of different nations with widely varied social, economic,political and cultural developments brought Globalization. The term became quite fashionable in the 1990s in the wake of fast international economic growth.Globalization, as most scholars agree, is the accelerated growth of economic activity across national, regional and international boundaries expressed by increased movement of tangible and intangible goods and services including ownership rights, trade,investment and migration of people. It is often facilitated by lifting government impediments to that movement and/or by technological process. Globalization comprises international economic interactions with an intensive increase in networking through telecommunications and large-scale use of computers, the dominance of big international corporations that deploy investments relatively freely across the globe. Hence, it isapparent that any country could not stop the influence of deepening globalization. This paper attempts to highlight the position of African countries in relation to globalization and some important strategies they could employ to benefit from it. It is also significant to note the negative effects of globalization like global warming and climate change which affects rich and poor countries. This calls for strengthening Climate-ResilientGreen Economy initiative to protect African countries from its adverse effects.