Advantages and Disadvantages of Globalization on South Africa

Topics: South Africa, Economics, Africa Pages: 2 (759 words) Published: May 19, 2011
Globalization is the "shrinking" of the world and the increased consciousness of the world as a whole. It is a term used to describe the changes in societies and the world economy that is a result of dramatically increased cross-border trade, investment, and cultural exchange. Globalization has been dominated by the nation-state, national economies, and national cultural identities. The new form of globalization is an interconnected world and global mass culture, often referred to as a "global village. “(Bhagwati,2004).Globalization is perhaps the central concept of our age (Bhagwati, 2004). Developing country refers to the countries which are economicaly and technologically undeveloped.South Africa stands as a semi-sephere nation making it differ from the rest of the developing world although it has party some charectateristics of a deceloping world.For South Africa to be the strongest African economy and attenting positions such as being a member of the g8 as been a clearl work of globalization making it at the center of the Africa.Globalization has managed to have an impact on the economy ,politics and social nature bringing about positive results for South Africa.In this essay;The situation during economice=c sunctions and its leberisation is clear evidance to economic libirazation I am going to illustrate how this process has had a positive impact in South Africa as a whole.primarly focusing on the positive impact globalization has had on South Africas economy .Through the broad and economic lebarization with other counties. The phenomeanall of globalization states that

The integration of South Africa into an increasingly integrated world economy has encouraged closer economic, political, and social interaction. In South Africa it has given companies access to wider markets and consumers access to a greater variety of goods and services.It has manifests itself in various forms such as an increase in international trade, financial flows, and foreign...
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