Taking Africa for example, European cultures were able to find their ways into the innermost regions as a result of the colonisation of various countries which was triggered by the European industrial revolution.
Taking Africa for example, European cultures were able to find their ways into the innermost regions as a result of the colonisation of various countries which was triggered by the European industrial revolution.Globalisation today has now cleared the way for worldwide development, but the progress is not “even” as some nations are getting integrated into the global economy faster than others as shown by these countries’ fast economic growth and reduced poverty levels (Lawal 2006).Tags: All About It Gcse CourseworkBusiness Phone And Internet PlansEssay On PerseverancePhd Thesis Proposal LatexBoyer And Nissenbaum ThesisFreelance Photography Business PlanEssays On Gender Roles In AdvertisementsFun Critical Thinking GamesEssay Pro Drug Legalization
James Rosenau, a foremost political scientist, defined globalization as ‘a label that is presently in vogue to account for peoples, activities, norms, ideas, goods, services, and currencies that are decreasingly confined to a geographic space and its local and established practices’ (Stallings 2000).
For those looking at it from the economic angle, it refers to the increasingly internationalized character of the emerging global economy.
For instance, it played a significant role in the ability of some countries to achieve independence.
Taking the case of Ghana for example, ‘the end of the Second World War was significant for Ghana’s gaining independence and a turning point in the history of the Gold Coast’ (Ofosu 2010).
Another positive impact of globalization on developing countries is an increase in standard of living.
One of the aims of globalization of economies is to reduce poverty, and this aim is being achieved by the increased access to foreign funding from industrialized nations to developing countries.
Again looking at the effect of globalisation on world trade, and indirectly on trade in developing countries, it is quite obvious that it enhances economic growth.
One of the emphasis of globalization is that member countries should open their markets to ensure open trading free of limitations.
There is now an increase in the inflow of foreign direct investment to developing countries as more than a quarter of world foreign direct investment inflows were received between 19 and this has increased yearly (World development indicators in Bertucci & Alberti 2001).
From US billion in 1980, private capital flows to developing countries increased to US 0 billion by 1997 (Bertucci & Alberti 2001).