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Globalization and Economic Underdevelopment of African States.

Authors: ADELEKE Odunayo , Obinna , Ngozi J.e

Publication Type: Chapters in Books

Journal: First Media Services Ltd

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Abstract

The Globalization concept evolved to explain the nature of interaction that goes on within the globe. This interaction cuts across boundaries and eliminates the barrier of distance to foster effective interactions between nations in the areas of trade finance, culture, investment and technology. In recent times, especially with the advent of capitalism, this interaction has been greatly championed through technological advancement and it is now seen as a calculated attempt to exploit the weaker economies through multinational companies. Although, this process of interaction on the global scale is believed to promote growth and economic development within the globe, as it encourages free market system and massive capital flow, but the situation in most African countries seem not to support this belief because, the process of integrating the African economies into the global capitalist economy has only led to an unequal economic relationship between the industrialized west and the developing/underdeveloped economies of Africa, and this has only encouraged the dependence of the underdeveloped and developing countries on the industrialized nations. This relationship however, seem not to better the economies of the developing nations. Thus, this study takes an analytical insight into the concept of globalization to ascertain its impact on the economies of African nations.

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ADELEKE,O. Obinna,I. Ngozi,J. . (2018). Globalization and Economic Underdevelopment of African States., 1 (), 498-498.

ADELEKE,O. Obinna,I. Ngozi,J. . "Globalization and Economic Underdevelopment of African States." 1, no (), (2018): 498-498.

ADELEKE,O. and Obinna,I. and Ngozi,J. and . (2018). Globalization and Economic Underdevelopment of African States., 1 (), pp498-498.

ADELEKEO, ObinnaI, NgoziJ, . Globalization and Economic Underdevelopment of African States.. 2018, 1 ():498-498.

ADELEKE,Odunayo , Obinna,I.o , and Ngozi,J.e . "Globalization and Economic Underdevelopment of African States.", 1 . (2018) : 498-498.

A.Odunayo O.I.o & N.J.e , "Globalization and Economic Underdevelopment of African States." vol.1, no., pp. 498-498, 2018.

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