Some countries are rich in physical resources but poor in development because the lack of technology like-African countries, are called developing countries. On the other hand, some countries are poor in physical resources but rich in technology like-Western countries, Japan and China are called developed countries. In this way world has been divided in the two main parts: North and South according to some scholars. In which north are developed countries and south are developing countries. The 21st century
The gap between the rich and the poor was larger than ever, and homelessness was on the rise as cities became extremely dense and overpopulated. Britain didn’t want this surplus population to go to waste, so the colonization of Africa was a good excuse to export these people so that they could help in taking over Africa. Overall, the reason for Britain’s colonization campaign for Africa was to show superiority to other nations, for natural recourses, and oversight on African trades. It’s clear that they were driven by economic and strategic
Without this money stolen from Africa, there is a major lack of development, and many Africans struggle to survive in a country with an insufficient amount of resources. A reason why this money hasn’t been returned to Africa is due to the British economy strongly depending on it. The imperialism shown when the British empire was present has done exactly the main goal it was originally meant to do. The colonization of Africa allowed Britain to grow in power, and grow its economy making it a stronger nation. Now, after the British rule was disbanded, the money earned from before stayed with Britain forever, which was an effective strategy for keeping Britain wealthy and in power.
However, one limiting factor to globalization is the effect of cost reduction; this has been a challenge especially having a great impact on Africa, where the development in agro-technology has been less than adequate, therefore increasing the cost of production which will later be influenced by the price of food or agro-produce in the global market. This leaves most producers especially in developing countries operating at a loss rather than a gain. There is therefore a need to strategize for globalization to be beneficial. It is important for a country to take note of her available resources as specialization towards international trade involves a fundamental change in how a country utilizes its resources. When countries open up to international trade, they tend to grow faster and living standards tend to improve significantly.
poor, underdeveloped countries with little or no economic capacity. Today, Sub-Saharan Africa is currently faced with the challenges to accelerate growth, reduce poverty, build up its human resources, and create an environment that encourages the development of the private sector. With the wake of the globalization, countries have the ability to repair their economies, according to Idahosa (2004: 93), globalization has two effects: offered greater opportunities for faster economic growth and significantly raised the risk of marginalization for the African nation-state. Africa has been marginalized from investment to trade; foreign aid has been injected into Sub-Saharan Africa to somewhat narrow down that gap. Impoverishment in Africa has been a mainstay of the continent, the World Bank reports showed an increase in the number of recipient countries, from the period of 1975 to 1997 (1997).
South Africa attracts economic migrants because it is the second biggest economy of Africa and it is considered to offer better economic opportunities for economic migrants. The country is also rated as one of the best few countries in the democracy index in Africa. This seems the reason why people who are persecuted for political reasons in their countries choose South Africa as their shelter. As such, a person who has been persecuted in his country because he exercised his political opinion can freely exercise this right in South Africa. However, he will practically be unable to exercise his socio-economic rights in South Africa.
Some have therefore proposed to increase taxes on land ownership, generally the richest. The IMF should also provide a technical-economic assistance that would train leaders to better manage and allocate funds. One of the great problems of Africa country is corruption, which diverts these funds to the detriments of the population. This corruption is also present in “North countries”. Effectively combating this corruption ensures that the money can be better directed towards a development which benefits the entire population, not just the most privileged.
Africa is the second largest and populous continent in the world. It is considered as the developing continent and 80% of it is in below the line of developed community. From the time of colonization Africans started facing a lot of problems such as: political instabilities caused by African leaders practicing a lot of corruption, coup d’états and much more. In the economy of the continent the number of GDP per capita is still low compared to the rest of the world and there are many arable places which have not been used. Insecurity in Africa is still also a big challenge where we still see many terrorist groups on the coast which contributes much to the downfall of the continent and also other different civil wars which are happening, we can talk about civil war in Central Africa republic, in Republic of Burundi and also we can’t forget
Less developed countries, such as African countries, largely depend upon single primary commodities for economic growth. There are several drawbacks to such a reliance on a primary product for the growth of the economy (Stein 1970: 607). Such economies are not able benefit from comparative advantage, due to the inability to direct resources towards other sectors, such as industry, with a greater potential for growth (Stein 1970: 611). According to Nafziger (2006: 611), less developed countries are “vulnerable to declining terms of trade due to the inability to shift resources to accommodate shifting patterns of comparative advantage”. Additionally, manufacturing exports are produced at a much faster rate than primary products.
Agricultural potential needs to be shown. If Sub-Saharan Africa, especially South Africa lowers the amount of imports and increases exports, economically people will be better off financially. Has much as food aids help Sub-Saharan Africa, it should not be relied on. If more local produce is harvested and sold, that would be a huge start at allevaiting food insecurity. Food for