The concept of globalization is one of the most influential factors in the study of various factors influencing our lives today. Globalization is marked by integration of markets and finance, and the triumph of free market over protectionism as well as creation of a global culture by the forces of technology (Imade, 120) The general ramification of globalization has been positive in the industrial capitals of the world in terms of creating jobs and opening up export oriented markets in Asia and Latin America. However, in developing worlds like Africa, globalization has not generated economic development. Even with the liberalization of African markets at the beginning of 1990s, African countries did not experience economic growth. Instead, the number of people living in poverty in the continent increased (Cheru, 44)
Questions have been asked whether globalization is good for Africa because of its failure to stimulate development. Is the disappointment of globalization in Africa a result of the implementation of the idea, or it is a function of reckless policies on the part of African governments? Either way, there is a general consensus that African development would be good for the whole world, and that globalization is necessary to tackle the challenges of the 21st century. This paper makes a case that Africa cannot escape integration into the international political economy. However, Africa can avoid the side effects of unchecked globalization through regional integration within the continent. This paper will make a case of the effects of globalization in the trading sector with trade involving the African continent being on the spotlight.
A plethora of definitions of globalization has resulted in ambiguity in the way the term is conceptualized. While there is a general consensus that globalization is the undisputed economic and political phenomena that is shaping modern international political economy, scholars debate on how globalization is defined with regards to different variables that affect international economics. Even though some scholars and policy makers such as Aryeetey Earnest and Allasane Outara argue that globalization is capable of creating a universal win-win situation for everyone, others such as George Ritzer argue that globalization generates an imbalance in the allocation of global resources and development across the globe. Also disputed are the roles of the states in the new world order and the relevance of states’ sovereignty.
For the purpose of this paper, globalization is “a reduction of political barriers between national economies resulting in a change of the state and the practice of sovereignty such that no particular entity can operate on its own. This technology enabled acceleration produces a new complexity in vulnerability that has cultural and social implications and requires adaptation across all jurisdictions (United Nations, 132)
According to Allassane Outara (now President of Ivory Coast) in his keynote speech to the IMF in 1997 titled “The Challenges of Globalization in Africa,” “globalization of the world economy is the integration of economics throughout the world through trade, financial flows, the exchange of technology and information, and the movement of people.” Outara’s premise is that economic success in the modern day is a function of market perception and economic policy; not resource endowment or geographical location, as it used to be in the past. In his view, globalization is “not a zero sum game- it is not necessary for some countries to lose in order that others may gain.” However, Outara warns that for countries to realize the benefits of globalization there would be a need to make use of the available opportunities (Cheru 44). Another proponent of globalization is Aryeetey Earnest who reasons that “globalization is a two way street, and there should be mutual gains for countries in this process.” She makes a claim that globalization creates diversity in economies that is healthy for economic development in small countries. Also, globalization improves risk-reward returns stimulate development on the part of investing countries (Imade 22) The thoughts provided on the definition lies in the same view as I had thought about the same idea of globalization.
In relevance to Africa and globalization, the scholars agree that Africa has yet to realize full benefits of globalization due to its limited integration into the global market. The idea of “detteritorialization” as argued by Scholte does not befit the continent of Africa. Also, Africa’s limited participation on the global market has raised questions on the applicability of the theory of free movement of capital across the globe. George Ritzer supports this claim when he writes “globalization is an epoch of increased openness and “simultaneously an era of growing restrictions on movement. Borders of course are major points at which movement is blocked (Ritzer, 99) Moreover, Ritzer makes the argument that “the idea that globalization hops, rather than flows, at least in some parts of the world (such as Africa, implies that some areas are strongly often positively, affected, others are not.
I believe the influence of globalization is felt in every individual’s life. As a consumer of goods from different parts of the world, I have been able to integrate my other global enabled innovations to create a well established trading environment for flourishing global trading among different members of the various societies.
This claim and realization makes me a member of the global society in which all the playing partners are involved. Through the exchange of the resources involved in the world market, believe I have been an active participating partner in the global society. Overall, it should be understood that regional integration and globalization resulting to global integration are complimentary to one another. While developing countries aspire to integrate into the world market, these countries will need regional integration to benefit from globalization. However, regional integration should not be based on protectionist strategies that exclude external markets. Instead, developing worlds should use regional integration to position itself to benefit in the global economy. I am sure that global society is a reality and useful in the current development of our societies.
References
Lucky O. Imade, The Two Faces of Globalization: Impoverishment or Prosperity? Globalization, 2003 (Theoretical perspectives on Globalization)
Caren Norberg and Fantu Cheru, Can Globalization Work for Africa?, The Nordic Africa Institute, Uppsala, PhD, Research Directors 2012.
George Ritzer, Globalization: A Basic Text (West Sussex, UK: John Wiley & sons LTD, 2010)
