AIM Student 431
May, 14th, 2012
Definition of Globalizationin own wordspage 4
South Africa as an emerging country and globalizationpage 5 Trade agreements the South African government made since 1994page 6 Globalization, the economy and foreign direct investment page 7 Globalization and Technology in South Africapage 8
South Africa is known internationally as the rainbow nation because of its diversity. The country has eleven official languages and many different cultures. It is a third world country with first world ambitions and ideals. The country went through plus minus forty years of apartheid that meant the white minority ruled the black majority. Apartheid did not allow the majority black citizens many rights. After the abolishment of apartheid South Africa as a country through the leadership of President Nelson Mandela had to be rebuilt. Many thought that the country will fall into a civil war but the nation got together and became Africa’s biggest economy in only eighteen years of democracy. The government embraced globalization and it was good for the nation building, the economy and the ordinary man in the street. What globalization does is to improve the economy of a country through investment and trade. In the case of South Africa globalization is good as it improved the cost of living in South Africa. It allows for cheaper products being imported into the country from international markets like China and India and makes it affordable to buy these products. Mostly all international brands like Coke, MacDonald’s, KFC, Samsung, and Sony to name but a few are available to South Africans. The foreign exchange market and commodities are being traded to improve the economy. Globalization and economics goes hand in hand and to show the good impact globalization had on South Africa and its economic markets. The following themes will be discussed to show the positive impact of globalization in South Africa. The first discussion point will be South Africa as an emerging country and the good of globalization. Trade agreements the South African government made since 1994, globalization, the economy and foreign direct investment and technological advancement and South Africa.
Definition of Globalization in own words
Globalization is the sharing of ideas, trading of goods and services and transferring of skills and technology between countries all over the world. It allows for the freedom of movement from one country to another by people to ply their trade and share their technical experience in developing countries.
South Africa as an emerging country and globalization
When the ANC government took control of the country in 1994, the country was on the verge of bankruptcy. Due to international sanctions imposed on the country because of apartheid and the internal civil unrest against the rule of Nationalist government, the country was in trouble financially as well as economically. In order to get the country back from the brink of bankruptcy and economically sound, the South African government embraced globalization and entered into trade agreements with countries around the world. The country also had to make it easy for investors to invest in the country. These decisions made by the government to embrace globalization had the desired positive effect of increased economic growth, job creation and the improvement of the lifestyle of South Africans. “At the start of 2000, then President Thabo Mbeki vowed to promote economic growth and foreign investment by relaxing restrictive labour laws, stepping up the pace of privatisation, and cutting unneeded governmental spending. His policies face strong opposition from organised labour. From 2004 onward economic growth picked up significantly;”...