The Role Of Globalization In Africa

Going down the memory lane of the 1960’s, with the swift evolution taking place in the respective fields associated to the social sciences, globalization, known for its “diverse” (Held and McGrew, 2002) nature, is nowadays being characterized as the “leitmotif of our age” (Held and McGrew, 2002), whereby giving way to a broader illustration of how globalization caters for various facets related to the “human contemporary predicament” (Held and McGrew, 2002). The “golden age” (Held and McGrew, 2002) became witness of major changes occurring in the political and economic sectors that consequently expanded in the long run, hence strengthening “domestic and international” (Held and McGrew, 2002) ties.

Globalization, in other words, revolves around

Firstly, on analyzing the political aspect affecting the African diaspora, ideologies such as democracy and human rights are increasingly becoming catchphrases. Moreover with the introduction of the concept focalizing on individualism in Africa, major problems are to crop up due to the fact that mankind is somehow being prone to more concerned about one’s own success rather than the communal success that is to be beneficial as a whole to the society, hence causing corruption being rampant in the African region. Although many “modern states” (Held and McGrew, 2002) have been developed as “nation - states” (Held and McGrew, 2002), there has been a turn towards “monopoly of coercive power” that goes along in being beneficiary to Africa but however encompasses some negative consequences in the long

For instance, being a member of the global village as well as the sole African G8 member, South Africa has been going through dramatic changes that curved the whole economy of the country in a positive way.

In the 1990’s on joining the international economy gathering, South Africa formed part of the business venture whereby globalization started becoming prominent. South Africa coped with the economic swings as an emerging market and in the long run, it gained lots of achievement with allowances of liberalization in investment, finance and trade. Consequently, those policies and regulations applied indeed enhanced the economic globalization at national and international levels respectively, leading increased competition, speculation and incentive to boost up the economy on the right track.

Lastly with the rapid growth of industrialization, South Africa experienced an increase of 3.8% in manufactured exports during the past 20 years, showing an incredible growth in the economic world. In a nutshell, the economic globalization indeed served as a gateway for South Africa whereby it gained access to trade and finance and catering for the wellness of the