Power Politics in the Era of Globalization and Third World Economy
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- Date Submitted: 01/06/2015 02:34 AM
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POWER POLITICS IN THE ERA OF GLOBALIZATION AND THIRD WORLD ECONOMY
BY
Fiase, Mercy Erdoo
Department of Political Science,
Benue State University, Makurdi
POWER POLITICS IN THE ERA OF GLOBALIZATION AND THIRD WORLD ECONOMY
Abstract
The paper examined the increasing web of politics occasioned by globalization and the implications on third world economies like Nigeria. It conceives globalization as a global capitalist process that is primarily concerned with integrating all economies of the world into a single economy, monitored and controlled by the most civilized and technologically advanced countries of the north, made possible by trade, financial flows, exchange of technology, information and movements of people via cables, satellites and other fast means of moving goods and services. The paper observed that poor countries like Nigeria and elsewhere are not only the least integrated internationally, they have also derived the least benefits from globalization. They have been the underdog of the global economy. They have not been able to take advantage of the opportunities offered in the spheres of wider markets for trade, an expanding array of trade relations, larger private capital flows and improved access to technology. The paper concluded that the benefits of globalization seems to elude third world economy day by day while countries of the West continue to declare benefits and gains of global phenomenon, especially in this era of global financial or economic meltdown. Leaders and government of third world must genuinely step up the gear to be able to reap the elusive gains of globalization for the benefit of their countries. Serious efforts must made by the 3rd world countries to curb the disparities between them and countries of the West.
Key words: Globalization, Third World Economy, Power, Politics
INTRODUCTION
The subject of this paper is the dynamic, controversial, and pervasive world of politics in the era of globalization. Political issues...
BY
Fiase, Mercy Erdoo
Department of Political Science,
Benue State University, Makurdi
POWER POLITICS IN THE ERA OF GLOBALIZATION AND THIRD WORLD ECONOMY
Abstract
The paper examined the increasing web of politics occasioned by globalization and the implications on third world economies like Nigeria. It conceives globalization as a global capitalist process that is primarily concerned with integrating all economies of the world into a single economy, monitored and controlled by the most civilized and technologically advanced countries of the north, made possible by trade, financial flows, exchange of technology, information and movements of people via cables, satellites and other fast means of moving goods and services. The paper observed that poor countries like Nigeria and elsewhere are not only the least integrated internationally, they have also derived the least benefits from globalization. They have been the underdog of the global economy. They have not been able to take advantage of the opportunities offered in the spheres of wider markets for trade, an expanding array of trade relations, larger private capital flows and improved access to technology. The paper concluded that the benefits of globalization seems to elude third world economy day by day while countries of the West continue to declare benefits and gains of global phenomenon, especially in this era of global financial or economic meltdown. Leaders and government of third world must genuinely step up the gear to be able to reap the elusive gains of globalization for the benefit of their countries. Serious efforts must made by the 3rd world countries to curb the disparities between them and countries of the West.
Key words: Globalization, Third World Economy, Power, Politics
INTRODUCTION
The subject of this paper is the dynamic, controversial, and pervasive world of politics in the era of globalization. Political issues...