Saturday, April 20, 2019

Discuss the impact of globalisation on an African country. (Nigeria) Essay

Discuss the impact of globalisation on an African country. (Nigeria) - study Example at that place is not only economic aspect to globalization, as it also has an impact on the political, cultural and ideological aspects of countries and their relations. In the case of underdeveloped countries it is often dealed that Globalization helps in their development nonetheless this tends to vary as there are certain positive and negative effects of globalization in case of underdeveloped countries.In the eighties Globalization came out as a liberating force loss the sphere from the military politics. In the nineties, with the advent of information technology it further gave the concept of turning the world into global village. It was with globalization that led to the adoption of western models by the underdeveloped countries such as Nigeria (Bigman). In Nigeria today there is a socio-economic flux that has been aggravated ascribable to the cultural legacy (Bigman). Its economic posit ioning is quite weak mainly because of the inadequacy in its economic capacity as well as its infrastructure. This economic weakening is also attributed to the monoculture dependency and the terms of export trade which are quite unfavorable. There is also agonizing burden of debts. Also before 1986 the country had expansion policies for its monetary and fiscal policies due to its regulated economic regimes in order to develop the economy (Obadan). However due to the political derangement and rise in corruption these factors were worsened leading to less investment choices for exotic investors.In view of the globalization, Nigeria has followed a liberalizing trend whereby it has taken measures to facilitate its economy but due to the unfavorable macroeconomic conditions, character facilities and technology the sectors could not produce accordingly. Also, despite opening its economy Nigeria has depended mainly on its oil exports where its foreign

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