Globalization and the Travesty of the African Cause

The term globalization connotes different thing to people. It is probably one the hotly contested concepts in the lexicon of development theorists. It can be defined as a process of worldwide integration of economies and societies. Merriam-Webster’s Online defines globalization as “the development of an increasingly integrated global economy marked by free trade, free flow of capital, and trapping of cheaper foreign labor markets.” It is a convergence of economic, political and culture systems. Globalization can be distinguished by a number of developments in the world economy including emergence of world trade agreements, adoption of international standards and elimination of tariffs.