Globalization and Development

2.  There is no consensus on a single definition of
Globalization between all disciplines of life.
 Economics focuses on transfer of goods,
services and funds in overall world.
 Some other disciplines such as anthropology and
sociology concentrate on the interconnectivity of
different cultures

3.  Globalization is a process that encompasses the
causes, course, and consequences of
transnational and trans-cultural integration of
human and non-human activities.
 it is the widening, deepening and speeding up of
world-wide interconnectedness in all aspects of
contemporary social life, from the cultural to the
criminal, the financial to the Spiritual.

4.  Development is, the process of economic, social and
political transformation.
 This means, an increase, propagation, expansion,
improvement or change for the better.
 Better health facilities, better education, clean
environment and better utilization of resources are
the important components of Economic
Development.

5. Economic growth emphasis on ;
 Increases in labor productivity and in total output
 Capital accumulation;
 Condition in which “people in a country have
adequate food and job and the income inequality
among them is greatly reduced.

6.  The attitude of the people to wards globalization,
 it is regarded as an opportunity to promote growth and
poverty alleviation.
 Globalization may improve growth rates, increase
productivity, enhance technological capability,
 The main goal of globalization is to provide
organizations a superior competitive position with lower
operating costs, to gain greater numbers of products,
services and consumers.

7. Impacts of Globalization On World Economy
 More efficient markets; It bring both sellers and
buyers together to sell or to buy based on their
willing.
 Increased competition; businesses across
international borders, had standard into the
global marketplace.
 Stabilized security, When your economy
depends largely on another country’s economy, it
is hard to imagine either one of the countries
attacking the other.

8.  Generally, globalization can create new
opportunities, new ideas, and open new markets that
an entrepreneur may have not had in their home
country.
Negative Impacts of Globalization on World
Economy
 Income inequalities, both between and within
industrialized and less industrialized nations.
 Global commerce is increasingly dominated by
transnational corporations which seek to maximize
profits without regard for the development needs of
individual countries or the local populations.

9.  Cultural uniqueness is lost in favor of
homogenization and a "universal culture" that
draws heavily from American culture
THE NATURE OF AFRICAN ECONOMY
 African economy is characterized by:
 Highly dependent, on the economies of the
industrialized countries.
 Less export production and very limited range of
commodities and wide range importation of
consumer goods.

10. IMPACT OF GLOBALIZATION ON AFRICA
 Positive Impacts of Globalization on Africa
 made available information on how other countries
are governed and the freedoms and rights their
people enjoy.
 It has also opened African countries to intense
external scrutiny and exercised pressure for greater
transparency, openness and accountability in Africa.

11.  Negative Impacts of Globalization on Africa
 Erosion of sovereignty; especially on economic
and financial matters, as a result of the
imposition of models, strategies and policies of
development on African countries by IMF, WB
and the WTO.
 brain- drain from;
 losing of cultural identity and interact with other
cultures