The concept of globalization delineates a profound
shift in the contemporary world with a heightened interconnection among nations that has diversified
remarkably. This vital interchange significantly impacts Africa’s progress,
positioning African nations in an exceptionally vulnerable stance amidst these
global currents. This paper argues that globalization is nothing but a renewed
ideological onslaught by the western powers to reify their culture of
radicalized subjugation of Africa and other third world countries and explores
patterns in international economic integration and developmental disparities
stemming from the rise of globalization. It discerns distinct facets of
globalization, such as trade and capital flows. Within the framework of
dependency theory, the adverse effects of globalization on Africa’s development
were scrutinized. The research underscores the correlation between inequality
and globalization, emphasizing how Africa, as a continent, has been influenced
by the strategies of Western political entities. This manipulation arises due
to constrained market opportunities for nations with lower technological
advancement. Moreover, the North’s prioritization of profits over the
continent’s development further exacerbates this situation. To address these
challenges, the study proposes through recommendations that African countries
reevaluate certain economic policies, advocating for relaxation of stringent
conditions imposed by Structural Adjustment Programs (SAPs) and a reexamination
of multilateral policies imposed through World Trade Organization (WTO) agreements. It urges the adoption of
development strategies rooted in the principles of sustainable
development that best suits Africa characteristics.
References
[1]
Amadeo, K. (2022). Bretton Woods System and 1944 Agreement. The Balance.
[2]
Campos, R., Pienknagura, S., & Timini, J. (2023). How Far Has Globalization Gone? A Tale of Two Regions. WP/23/255, December 2023. https://doi.org/10.53479/34612
[3]
Fatton, R. (1992). Predatory Rule: State and Civil Society in Africa. Lynne Rienner. https://doi.org/10.1515/9781685856076
[4]
Frank, A. G. (1982). African Again Betrayed: The Time from Within. Library of Congress Publication.
[5]
Friedman, T. L. (2013). Globalization, Curse or Cure. Macmillan Publishing Company.
[6]
Heidhues, F., & Obare, G. (2011). Lessons from Structural Adjustment Programmes and Their Effects in Africa. Journal of International Agriculture, 50, 55-64.
[7]
Hickel, J. (2020). Apartheid in the World Bank and the IMF. Al Jazeera Opinion.
[8]
Human Development Report (2012). Globalization and Inequality: Reducing Hunger in Africa.
[9]
John, O. I., Messina, G. M., & Odumegwu, A. C. (2023). The Effects of Neocolonialism on Africa’s Development. Pan African Journal of Governance and Development, 4, 3-35. https://doi.org/10.46404/panjogov.v4i2.4846
[10]
Kaplinsky, R. (2005). Globalization, Poverty and Inequality: Between a Rock and a High Place. Cambridge University Press.
[11]
Lanan, A. (2018). Neocolonialism and the Poverty of Development in Africa. Palgrave Macmillan.
[12]
Lazarus, A. (2001). Multinational Cooperation (MNC). Columbia University Research Blog.
[13]
Lin, J. Y. (2017). New Structural Economics and Industrial Policies for Catching-Up Economies. In S. Radosevic et al. (Eds.), Advances in Theory and Practice of Smart Specialization (pp. 183-199). Academic Press.
[14]
Mamdani, M. (1996). Indirect Rule, Civil Society, and Ethnicity: The African Dilemma. Social Justice, 23, 145-150.
[15]
Mhone, G. C. (2000). Globalization and Underdevelopment in Africa: What Is the Role of Education? International Review of Education, 46, 427-442.
[16]
Offiong, D. (1980). Imperialism and Dependency, Obstacles and African Development. Fourth Dimension Publishers.
[17]
Oxfam International (2012). Poor Governance, Good Business: How Land Investors Target Countries with Weak Governance. https://tinyurl.com/587b5rbj
[18]
Oyier, C. (2017). Multinational Corporations and Natural Resources Exploitation in Africa: Challenges and Prospects. Journal of CMSD, 1, 69-71.
[19]
Rodney, W. (1973). How Europe Underdeveloped Africa. Bogle-L’Ouverture Publications.
[20]
Samoff, J. (1978). [Review of Unequal Development: An Essay on the Social Formations of Peripheral Capitalism, by S. Amin & B. Pierce]. ASA Review of Books, 4, 87-88. https://doi.org/10.2307/532256
[21]
The Conservation (2022). How Multinationals Avoid Taxes in Africa and What Should Change. The Conservation Africa.
[22]
The Economist (2023). Special Report: China’s Belt and Road.
[23]
Thompson, A. (2010). An Introduction to African Politics (3rd ed.). Taylor & Reference.
[24]
Toussaint, é., & Bruneau, C. (2023). The World Bank: A Critical History (1st ed.). Pluto Press. https://doi.org/10.2307/jj.5938919
[25]
United Nations (2010). African Debt Crisis: A Continuing Impediment to Development.
[26]
Van Rossum, M., & Dalrymple-Smith, A. E. (2020). Globalization and Coerced Labour in Early Modern Asia and Africa. Comparativ, 30, 543-559. https://doi.org/10.26014/j.comp.2020.05-06.06
[27]
World Bank (2017). Extractive Industries. World Bank Group.