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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The challenge of Africa in global economy
Author:Arinze, Peter EmekaISNI
Year:2002
Periodical:Hemispheres: Studies on Cultures and Societies
Issue:17
Pages:5-17
Language:English
Geographic term:Africa
Subject:global economy
Abstract:This paper highlights some key factors that African countries will need to address if they are going to realize the opportunities and negotiate the challenges posed by globalization. Does Africa's economy provide preconditions for globalization? The paper looks at this question in the context of five factors which determine the favourable impact of globalization on the world economy: the quantity and quality of natural resources; the quantity and quality of human resources; the supply or stock of capital goods; technology; character of entrepreneurs. For Africa all the central planks of the process of globalization have been implemented over the past decade and a half as the structural adjustment programme (SAP). The result has been a further undermining of the internal national productive capacity and social security of African countries. Regimes backing globalization are unfair to Africa, which still cannot compete on equal terms with the more advanced countries. While globalization benefits African countries in some ways - the advance of information technology is making it increasingly difficult for the more developed countries to ignore the small-speed rate of advancement in the developing ones - but the greatest concern is the way in which globalization has widened the gap between the haves and the have-nots. Ref. [ASC Leiden abstract]
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