What Is A Limiting Factor Of Globalization

917 Words4 Pages
The historical origins of globalization are the subject of ongoing debate. Though several scholars situate the origins of globalization in the modern era, others regard it as a phenomenon with a long history. Some authors have also argued that the beginning of globalization stretches much further back in time than we can imagine.
Globalization as reported by John Mellow, 2002 refers to increases in the movement of finance, inputs, output, information, and science across vast geographic areas. The gains from globalization increase net income in many places and facilitate decreases in levels of poverty and thereby increase levels of food security.
A study on the globalization of food, points out that food systems are changing, resulting in greater availability and
…show more content…
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. The positive development Africa has had recently in international trade is a good starting point which promises that the continent can benefit even more from
Open Document