An Economic Analysis of the Position of Africa in the Global System and Benefits from Globalization

Authors: Dantani Agabi Yakubu & Farouk Ibrahim Bibi-Farouk

Journal: AJODEPS | Volume: 6 | Issue: 1 | Year: 2025

Abstract

External dependence by Africa for growth has deepened her economic crisis. As a member of the global community, Africa is not absent from globalization. The research paper analyses the impact of globalization on Africa’s economic development. However, the continent is exposed to both the benefits and burdens of globalization. It argues that although globalization presents many opportunities, it also exposes developing continent to many new challenges. The paper also suggests that African governments’ policies should be designed systematically so as to balance between its current low economic status, its political teething problems and the pressures to catch up and fit into the inevitable globalization trends would be over if Africa enforce a African common hard currency that must be convertible and accepted in the global System as the European Hard Currencies presently used in international trade.

Keywords: Africa, Globalization, Science and Technology, Internet, Global, Dependency.