This chapter discusses the review of relevant literature. As part of this research, which includes articles seminar paper, newspapers , textbooks , etc. The review materials are grouped under the following headings 1. The challenges to globalization 2. Situating Nigeria for development in a globalization era 3. Obstacles to economic development 4. Globalization and economic development 5. Merits of globalization 2.2 THE CHALLENGES OF GLOBALIZATION The word globalization is used in different ways. The controversial nature of the concept of globalization is part of the explanation of the confusion of that much of the public debate. The British government believes that if managed well, the benefits of globalization for poor countries and people …show more content…
However , the following are the benefits of globalization. They are as follows. 1. Globalization creates opportunities for the socio economic development among nations or state. 2. Globalization makes way for international investment and trade, there by establishing trade and bilateral relations between countries. 3. Technological diffusion and the distribution of economic development from rich to poor countries. 4. Globalization creates freedom to choose markets among globalized economy. EFFECTS OF GLOBALIZATION The globalization process, which began more than a decade and a half ago trapped Nigeria on the basis of political instability. The main features of globalization includes the liberalization of trade, the free movement of capital and the rapid development of information technology. Globalization offers opportunities windows when development rates and exchange rates, terms of trade etc., are on a positive and reasonable scale. In Nigeria, in the mid-eighties, utility and public infrastructure had come in very bad condition. The road network were in poor condition. Schools and hospitals …show more content…
As a result of activities related to oil, agriculture was neglected (Ralph 2010; 304). After Dauda (2009; 84) the impact of globalization is characterized by the following 1. Uncompetitive and collapsing industrial sector activities (30% surviving in the previous 10 years.) 2. Rapid increase in unemployment, under employment and poverty (about 60% of the youth aged 14-25 years) amounting into 3 million jobless people entering the labour market annually. 3. Social instability (ethnic nationalist and religious friction) 4. Hyper inflation covers 50% between (1985 – 1995) 5. Unstable exchange and interest rates 6. Low productivity and 7. Endemic corruption, greed. Given the Nigeria’s socio economic and political disposition Globalization presented more challenges for the country for it lacks what is needed to be relevant and deal with it untill the nation can achieve a certain measure of good governance, modest economic
Globalization is the inclusion of the differents values socio-cultural and economic local from one country to another, through their relationships exchanged a series of products and knowledge that extend and increase their ideological and economic situation. Globalization is beneficial for businesses of Colombians. As well as has influenced in areas as the social, economic, cultural, political, technological and educational in our country, globalization has ventured into the business of Colombians to favor or disfavor wholesale sales. Globalization has been a transition process started from the time of conquest and colonization, this exchange of cultural contracted a new market with mobility and trade of products and goods which over time did not stop there, but rather it was intensified and point greater flowed recognition from the
Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world. The most common example of globalization might be Ebay or Amazon. Nowadays flows of goods and services are not only cheap and fast, but reliable and secure.
Audience: My audience for this paper is the general public because I would like to get the most people informed on my topic. Thesis: Life extension technologies should not be pursued because they are dehumanizing and have many unknowns about their eventual effect on social equilibrium. Argument: While it is a dream for most humans to be able to live longer (or even forever), this dream is very likely to come true with a cost.
Because some people argue that globalization help poor countries to become economically good state & make their living standards improve ,while others arguing that the creation of the free market concepts enable developed countries to make more money at the expense of poor countries resources, labour & cultural unbalances. So some part of the world helping globalization concepts & others resisting the concepts of globalizations, Actually most of them trying to see a balance between pros & cons of the globalization for example governments trying to manage the trading concepts based on the governmental objectives by creating new
CHAPTER 1 INTRODUCTION 1.0 Introduction This chapter includes the studies background, statement of the problem, theoretical framework, conceptual framework, significance of the study and hypotheses. 1.1 Background of Study Researcher focused much attention in studying relation of perfectionism and self esteem level. This is because these two elements are important determinants of success. Nowadays, many researchers have done their study on perfectionism in two ways either orientation perspective or adaptive perspective.
Globalization, historical and contemporary is a very open concept. Many sides are argued when it comes to globalization when it began, what it has caused and if it is positive or negative on society. All these views make it a difficult concept to discuss because there are so many sides it can be seen from and it is very difficult to find facts because not everyone agrees. Due to the fact that globalization is such an open idea it does allow people to present their own opinion on the matter making all of the material within globalization very exciting to learn about.
Because some people argue that globalization help poor countries to become economically good state & make their living standards improve ,while others arguing that the creation of the free market concepts enable developed countries to make more money at the expense of poor countries resources, labour & cultural unbalances. So some part of the world helping globalization concepts & others resisting the concepts of globalizations, Actually most of them trying to see a balance between pros & cons of the globalization for example governments trying to manage the trading concepts based on the governmental objectives by creating new
According to the Nigerien government, “Up to 6 million people in Niger are facing severe food shortages with agencies calling for $1 billion to head off the impending crisis” (Nigerien Honorary Consulate UK). This suggest that structural problems in the agricultural sector and climate changes have led the country to food insecurity which end up in famine in the worst case scenario. The underdevelopment of Niger’s agricultural sector unable the country to satisfy its own food demand and this largely contribute to the global underdevelopment of the country. Knowing that agriculture is only the second largest source of export, one might wonder the role played by Niger’s
Challenge of modernization and globalization in the UAE society Introduction The UAE is renowned for its rich cultural heritage heavily manipulated by Arab and Islamic traditions. UNESCO has particularly acknowledged the Emirate of Sharjah as a fascinating emirate that has single handedly taken measures in protecting the rich cultural heritage of the Arabs. A classic example is anchoring the Dubai Shopping Festival in cultural values that are local and traditional. It should be noted that the primary aim of the festival is to attract tourists from all over the world.
Globalization has a huge impact to nearly every aspect of life in this modern era. Globalization refers to the movement towards a borderless world and the interdependence of global economies. In other words, we can consider globalization as an economic integration of the world through the greater trading, investments, marketing demands and the dispersion of technologies. It involves other aspects of life such as exchanging thoughts and ideas from all over the world and some of the people are also moving to other countries. However, the speed of globalization varies from nation to nation and sector to sector.
What happens in Nigeria right now is classified as inequality and non- existent life chances, as the rich own the rights and poor got to work for them like slaves. Most of them are trapped in the poverty trap. If the president of the country steals and harasses its nation, why would the owners of big industries do
This paper will provide information in several areas
While this research paper is written with an intent to highlight the factor of demographic age bomb in UK, it is now necessary to analyze the situation of demographic ageing and its impact from the socioeconomic level. One major factor that rose out from the issue of demographic age-bomb is the imbalance between the young and the elder generation. With the decrease in the rate of fertility and increase of elderly in the society [the ratio which is expected to surge], many of the elderly generation has to get dependent on the youth generation. Here, the dependent elderly is referred to those who are unable to work for health crisis, psychological issues in the old age.
The purpose of economic globalization is making country richer, and improving people’s standards of living. Nowadays, economic globalization has become one of the controversial topics in the world. But the truth is almost every country in this world have involved in economic globalization. In my opinion, whatever they are developed countries or developing countries, economic globalization can help them develop their economy, and making their country
The research questions are then formulated in the chapter, which are intended to be answered in the literature review. Thus, the second chapter of this study is providing the literature review for the research study. Chapter Two – Literature Review 2.1. Introduction The purpose of this chapter is to provide the comprehensive literature based on previous studies.