The extent of globalization in Africa
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Globalization is a process of expansion of capitalism on a global scale. While it began centuries ago, it has accelerated dramatically since the 90s. All territories do not have the same level of economic development. Thus the Triad is an integrated space that takes advantage of the phenomenon, while Africa has, always been subject to globalization.
However, its current extreme marginalization was not always true. The African continent accounted for 1% of world trade in 1880, 3% in 1913, and 8% in 1960 before falling to 2% in 2006. Thus it underwent more globalization than it resolved to.
The big loser in world trade:
Of the 53 African states, 15 have no access to the sea, and as we are well aware of the importance of coastal development in globalization, this lack of access is definitely a handicap. It has been estimated that only one African out of five lives within 100 km of coastline.
African budgets are weighed down by debt settlement. SAPs are akin to real economic interferences. The 1990s has been particularly terrible for Africa: the breakup of the Soviet Union ended the annuity policy and the collapse of commodity prices decreased the primary pension. Thus, Africa is becoming a ''blind spot'', a ''bankrupt'' continent.
The economic interference is compounded by political interference because little help is given to the continent. Chaos and civil war settled reigns across the continent with various armed groups competing for power. This situation got progressively worse until the mid-1990s with 35 states out of 53 experiencing disturbances.
Tags: Globalization in Africa, Political and economic turbulence in the ?Dark Continent', African debt settlement