Impact Of Globalization On Developing Countries Ppt – 2 Globalization What is globalization? The global economy means the process of integration of different national economies. Globalization involves the political, economic and social interaction of countries with each other. Economically, the countries of the world are united through trade, markets, etc.

3 Continuity of Globalization…Ideological; There is a dominant ideology in the world, that is, the ideology of capitalism. This integration is part of the global village—people integrating beyond their national borders. It is a process of interaction and integration between people, companies and governments of different countries.

Impact Of Globalization On Developing Countries Ppt

4 Globalization cont… The term “globalization” came into common use in the 1980s. Since the early 1990s, globalization has grown rapidly throughout the world. – It reflects technological advancements that have made both trade and financial flows easier and faster to complete international transactions.

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Free movement of people, goods – There is free movement of people from one country to another eg. Tourists, refugees, etc. Tanzania, for example, has been the destination of choice for many refugees in the world since independence. Tanzania hosted about 1.5 million refugees between 1993 and 2000.

Tanzania is a country with many tourist attractions such as Mount Kilimanjaro, old monuments in Zanzibar, national parks, etc.

Rapid advances in communication and technology – a global technological revolution has arrived. – Spread to various degrees to many service industries such as banking, insurance.

Foreign investment. – Globalization provides scope for other investments such as foreign direct investment (FDI). In Tanzania for example foreign mining companies such as mining corporations Kahama Mining Corporation Ltd.

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Increased political freedom (democracy). – It is through the spread of ideas and ideologies such as political ideologies for example. Multi-party democracies emerged all over the world. Free market economy – expanded markets for manufactured goods such as international trade.

Finance – The flow of money is facilitated by international financial institutions such as the International Monetary Fund (IMF) and the World Bank (WB) for example. Multilateral banks have branches all over the world to facilitate money transfer. Privatization has also been emphasized, i.e. various private institutions are operating all over the world.

The globalization process for Africa began with its integration into the world capitalist system. The International Monetary Fund (IMF) and the World Bank (WB) played a significant role in effecting a long-term strategy to transform the social structure of Africa (Stein 1992).

After the economic crisis in the 1980s, the IMF and the WB offered a large package, often in the form of an economic recovery program, for African countries to find a way out of the debt crisis.

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Globalization is considered by some as an enabler of development and some consider globalization as a cause of underdevelopment. Both development and underdevelopment are seen as historical processes.

For developmental theorists; The criteria of interdependence consists of the exploitation of the poor by the rich developing countries, thereby leading to backward development. Colonialism repeats itself in what is now called globalization, even when the skin and voice are the same.

Intellectual domination of the South by the North. Today, scholarships and grants are awarded to influence the economic development of Africa through sponsored and predetermined thematic research.

The intellectuals conform to the North’s assumptions that technology is imported, while the intellectuals become the ‘renovators’ of these technologies rather than just the creators and innovators of these technologies, hence the growth of progress.

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The diversity of cultures and peoples in Africa that were brought together by force. The world “Africa” ​​can therefore be misleading if it includes more than people who do not identify themselves with the continent.

The histories of these peoples have been canceled out through a process of assimilation linked to the “assumption” that Africa has no history (Ajayi 1997, Mazeroi 1997).

Therefore, development is conceived on the basis of external history (the Western model). Dependency theorists argue that underdevelopment is an effect of globalization. Globalization refers to the expansion of capitalism worldwide.

Globalization has created development (modernization theory). But the kind of progress it has brought about is the progress of capitalism.

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QS. Globalization creates both “winners” and “losers.” discussion There is a growing literature that discusses the process of globalization in different ways. In other words, globalization has a number of contradictions and different perspectives on its meaning, significance and effects/effects in individual nation-states and in the world as a whole.

The claim that globalization creates both “winners” and “losers” as asserted by UNDP (1996) reflects the positive and negative effects of globalization in different countries of the world. Globalization not only creates new opportunities and benefits but also creates new threats and increases human suffering.

While it has brought much prosperity and development to previously unindustrialized countries such as the East Asian tigers, it has also grown in other marginalized and impoverished countries such as sub-Saharan African countries” (Assefa, et al., 2001). Advantages (positive effects) and disadvantages (negative effects) of globalization include:

Free trade and markets have expanded the markets for manufactured goods. Although even developing countries receive various goods from different parts of the world (as can be pointed out to Tanzania where there is a large flow of goods from China) but developed countries that are highly industrialized are those countries. Compared to getting more benefit than just the consumer.

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Many countries in the South have seen their share of international trade decline over the past two decades. This is because international trade laws are against the poor. Through SAP initiatives, poor countries have been forced to open their markets where the rich continue to restrict theirs.

Sub-Saharan Africa’s importance in global trade has declined over time. The sub-region’s exports accounted for 3.1 percent of world exports in 1990, its international share has fallen to about 1 percent, implying an annual trade loss of $65 billion.

Globalization provides the basis for other investments such as foreign direct investment (FDI). For example, in Tanzania, one of the poorest countries in the world, foreign direct investment increased from zero (0) in 1991 to 193 million dollars in 2000 (Lipumba, 2008).

Southeast Asia received about US$81 billion in financial flows in 1996, about two-thirds of the total foreign direct investment of developing countries in the same year (Rugomamo, 2005).

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Only developed countries or rich people benefit more from the investment opportunities offered by globalization than poor countries or poor people. Poor countries not only do not invest in developed countries but also take advantage of investment opportunities at the regional level.

Foreign mining companies in Tanzania such as mining corporations Kahama Mining Corporation Ltd., Geita Gold Mining Company Ltd., Golden Pride (T), North Mara Mines Ltd., Mwadui Williamson Ltd., and Tanzanite Mining Company (AFGEM Mererani Mining Ltd.) has a small contribution in the development of the country.

These companies accounted for more than 50% of the total mineral exports but for the benefit of investors (Mkinga, 2006). Generally, FDI is potentially the most valuable source of private capital transfer to Africa. At worst it can take advantage of unfair labor practices, evade taxes, pollute the environment and generate high profits with little benefit to the local economy.

Africa’s image as a location for foreign direct investment has not been favorable over the years. Often, the continent is only associated with images of civil unrest, starvation, deadly disease and economic chaos. This image has given many foreign investors a negative view of Africa.

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In addition, foreign investment has led to conflicts between indigenous/indigenous people and foreign investors, e.g. Recent clashes between pastoralist communities, particularly the Maasai, and foreign investors have resulted in the evicting of about 20,000 pastoralists by a UAE-based hunting company called Oterlo Business Company (OBC) in Lolando.

Globalization has expanded the activity of private-based socio-economic activities. Since the beginning of privatization in Tanzania in 1993, about 312 have been privatized (Kilin, 2006). Some privatized companies operate using their own rules rather than being constrained by government regulations and laws.

Privatization of some national state-owned enterprises is called “selling public and national rights in the form of privatization” (Chachaj, 2003). A good example can be taken from Tanzania where the government used public/state funds to finance the underperforming Tanzania Railways Limited (TRL) after privatisation.

Globalization is facilitated by the development and/or facilitation of information and communication technology (ICT). ICT has a number of impacts in social, economic, political and cultural fields. It has facilitated communication through cell phones, electronic mail (), video conferencing, etc.

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ICT has also facilitated easy financial transactions eg. Through online banking, Visa and MasterCard; Automatic Teller Machine (ATM) etc. However, the question is whether ICT brings the same benefits to both developed and developing countries.

Observation shows that not only is the use of ICT higher in developing countries but it is more integrated in productive activities than in developing countries such as Tanzania. Observations show that developed countries having high technology have hardly disclosed such advanced technology to developing countries.

They still employ foreign experts from their respective countries. development

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