IMPLICATIONS OF GLOBALIZATION TO AFRICAN STATES: A THEORITICAL PERSPECTIVE
This study, which dispassionately explicates the reality of globalization as regards to the role of African states, more importantly its nature in an international transaction. It utilizes secondary data in the form of published works to adumbrate the great challenges of globalization to the developing economies, especially in the high level of competition in financial activities, trade, as well as policies associated with the system which has greater effect on state capability to control the forces of market principles and global inequality. The paper argues that, African countries are among the victims of the globalizing economy, whereby, marginalization and discrimination of other states in the continents exhibited international imbalance as well as retrospectively to local economies, businesses and development of infrastructure. To that effect, operating with multinational corporations added to the diminishing national sovereignty of African states, specifically in the socioeconomic aspect of the people. It also looked at the rationale behind the ability of Asian countries to respond properly with their domestic policies to the globalization unlike African and Latin American countries.
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