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DS 112-Globalization and Development

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29 views

DS 112-Globalization and Development

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gerraldchole
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DS 112: Development

Perspectives I
Module 6:Globalization and Development
Outline
Conceptual issues in globalization and
regional integration
Advantages of globalization and
Development
Problems and challenges associated with
globalization in Africa
Introduction
What is globalization ?
Contested ideas.
An economic phenomenon?
A political phenomenon?
A social phenomenon?
A cultural phenomenon?
Meanings
The intensification of worldwide social
relations linking distant locations in which
local happenings are shaped by events
occurring many thousands of miles away
and vice versa(Giddens, 1991).
Meanings cont.
A contemporary phenomenon manifested
with increasingly convergence among all
people on common institutions and values
(Fukuyama, 1994).
Meanings cont.
Is the liberalization of national and global
markets in the belief that flow of trade, capital
and information will produce the best outcome
for growth and human welfare(Economists).
Meanings cont.
Globalization
means the onset
of the borderless
world (Kenichi
Ohmae, 1999).
Generally Globalization entails:
Increased interconnectedness and
interdependence among state and non-state
actors in the areas of politics, economics and
culture.
And it is characterized by massive cross-border
flow of good and services, people, ideas,
capital, finance and technology.
• Economic dimension
Intensification and expansion of global economic
and financial linkages at global scale.
Encouraging cross-border movement of good,
service, labor and capital. e.g. businesses can
seek their funding from foreign banks that offer
the most competitive interest rate.
have more flexibility to operate as well as locate their
operations in any countries that offer advantages e.g.
cheaper labor cost or closer proximity with the
customers.
Economic opportunity has been expanded, from
domestic to regional and global consumers.
With more players selling the same goods to target customers,
competition is increased; consumers will get the benefit of
cheaper price... Hence consumerism.
Consumerism: idea that increasing the consumption of goods
and services in the market is always a desirable and that a
person's wellbeing and happiness depends on obtaining
consumer goods and material possessions.
• Socio-cultural dimension
Intensification, expansion, sharing and
harmonization of social values, cultural aspects,
education, life styles, fashion trend and popular
culture.
It is facilitated by ICT, information exchange
through social networks, and mass
media….Communication barriers have been
reduced and removed.
 Cultural homogenization: the reduction in cultural
diversity through the popularization and diffusion of a
wide array of cultural symbols—not only physical objects
but customs, ideas and values.
US, UK, Germany, France, Japan, N/S Korea and China
universities open the opportunities for the rest of the
world through various platforms …..online distant
learning programs, exchange and scholarships programs.
There are many international organizations that help
promote collaborations and tackle socio-cultural issues
such as UNICEF, UNEP, UNESCO, and WHO.
Environmental Dimension
Intensifying, deepening and expansion of global
networks on environmental management and
ecological practices.
Building collective consensus and negotiating
agreements, tackling global problems such as ozone
layer depletion, toxic waste, loss of forests and
species, and air and water pollution.
Institutions: UNEP, World Meteorological
Organization and UNEP established the
Intergovernmental Panel on Climate Change (IPCC).
Political Dimension
Intensification and expansion of political
cooperation, values and practices in global scale.
Political tension is no longer individual problems
between conflicting nations.
Poverty in the Caribbean means more drugs on the
streets in Washington and London.
Conflict in the Balkans causes more refugees in
Germany and in the UK
These problems can only be addressed by
international co-operation or a sort of global
governance.
A lot of institutions to foster political cooperation
(Regional Integration) among countries…..UN, EU,
and G7
Globalization V.S. Regional Integration
 RI is a process in which neighboring states
enter into an agreement to upgrade
cooperation through common rules and
institutions (inter-government or
supranational).
 It is also known as Economic Integration or
co-operation.
Regional Integration cont.
RI involves one or more written agreements
that describe the areas of cooperation and
coordinating bodies.
RI begins with economic integration and as it
continues include political integration(spill-over
effect).
Countries agree to remove trade barriers
between them so as to simply cross-border
trade, investment, capital and labor mobility.
There are two common forms of Agreements
in RI: Bilateral and Multilateral.
1. 2.

They may also move on to harmonize their


social and fiscal policies.
The Relationship/difference
Globalization Regional Integration
• Focus: On integration, harmonization is
• Focus: On integration though critical for total integration.
harmonization is a big part.
• Scope: Global scale • Scope: Region(al) Scale
• Participation: Free, based on
compliance • Participation: Free, but membership
• Actors an players: Multiple, agreement is important.
various size and capacity.
• Actors and players: Multiple, often in a
• State involvement: Important but given region.
non-state actors play a big role
• State Involvement: Very critical though
non-state actors are equally important.
Globalization Drivers
• What makes globalization possible?
i. Technology
ii. Communication networks
iii. Internet access
iv. Growth of economic cooperation – trading blocs (EU, NAFTA, etc.)
v. Collapse of ‘communism’/USSR
vi. Movement to free trade policies
vii. Ideologies
Challenges and Way forward.
What are the Globalization driven challenges facing Africa?
Loss of cultural identity
Increased competition from imports
Sluggishness of local technological capabilities
Poor industrial base/decline of certain industries
Terrorism
Job insecurity
War and disease
Bad weather and climate change
What do you think should be done to address these
challenges?
Way forward.
Strengthening domestic institutions (Regulatory bodies, legal
systems and public service delivery strategies including stable
economic policies that will cure dependency syndrome).
Looking for suppliers and partners across the Global at various.
locations (Engage with diverse stakeholders)
Embracing modern technology.
Learning from best practices and experiences(Take what is best of
fit.)

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