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Examining How Globalization Shapes Africa’s Underdevelopment

DOI: 10.4236/ojbm.2024.122046, PP. 875-885

Keywords: Globalization, Africa, Dependency Theory, Inequality, Sustainable Development

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Abstract:

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.

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