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| Manifold risks, vulnerability and failures in globalization process: Empowering local organization to engage and benefit in the process |
 PRINTABLE VERSION |
World Bank has identified the need for these more than five years ago. In its report of January 24, 2001; the global bodies canvass for the improvement of social safety net and in fact make it permanent in developing country. It is the responsibility of the government therefore, to put in place appropriate policies and implement it to the later. There should be such arrangement as mutual community support; market base arrangement like giving low interest loan to Small and Medium Scale Enterprises (SMEs) and of much great significant is social benefit to the vulnerable. Self employ and rural dwellers should also be coved by the government safety net.
Conclusion:
It is important to understand that all the aforementioned are only achievable under a good and responsive government. The benefit of globalization is open to all countries; it is now left for each to take up the opportunity provided by the process. South Africa, for now, is the only efficient sub Saharan country tapping into the opportunity. The need to have mutual goal in the negotiation of international trade regimes, that is WTO should be emphasized. Sub Saharan African countries needs to move beyond exportation of raw material to feed industries in Europe and America to major exporter in manufacturing produce. Africa Growth and Opportunity Act (AGOA) have not been exploited by the countries in the sub continent. The Act opens arrays of opportunity to eligible sub Saharan countries to tap into the United States Market in such area as textile product. It allows for zero import duty for product from the sub continent under the Generalize System of Preference (GSP). Majority of this country are presently in slumber, and they need to wake up in order to reap the benefit of the process. New partnership for African Development (NEPAD) is a good framework for the continent to reap the benefit of globalization. If the countries of the region implement NEPAD to the later; significant benefit of globalization would be reaped. Essentially, government should always make promising intervention to reduce vulnerabilities. A reduction in vulnerability is thus both an end and a means to development. Our faith is in our hands!
References:
Jagdish Bhagwati, (2002) Protectionism www.econlib.org
Jan Art Scholte (2000) Globalization: a critical Introduction, New York, Palgrave
Joseph Stiglitz (2004) Globalism Discontents in Frank Lechner and John Boli (ed.) the Globalization Reader, USA, Blackwell
Mike Davis, PLANET OF SLUMS: Urban Involution and Informal Proletariat, New Left
Review, March-April 2004
World Bank news release, January 24 2001 Improving Safety Nets Vital For Making Globalization Work For World's Poor
Geoffery Woods Globalization and Human Resource Management
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