The Negative Effects of Globalization on South Africa

1691 Words7 Pages
Globalisation refers to the process of the integration of economic, political, social and cultural relations among people, companies and governments of different nations and countries. It is a process aimed improving international movement of goods, services, labour and capital. This process also has a direct impact on the environment, culture, political systems, economic development and prosperity, and a human physical wellbeing of societies in the world. Globalisation also indirectly suggests internationalism and mutual agreement and support between countries, as opposed to nationalism and protectionism, which have negative defining characteristics. Globalisation goes back as far as the era before the First World War. During that time globalisation’s general tendencies produced a very uneven pattern of global economic development, exposing the limits of global economic integration. For example, the integration of the African economy into the capitalist economy is part of the globalising tendencies of capitalism. Over the past 30 years the globalisation of the economy led by the World Bank, the International Monetary Fund and transnational entities have happened at a very quick pace. These institutions have pressured governments of developing countries such as South Africa to remove barriers to the cross-border flow of capital and products. Even though globalisation is a positive or... ... middle of paper ... ...0 pp. $115 (cloth), ISBN 0-415-22425-X., Globalization: Little Impact on the Continent, Published March 24, 2003, Author: Julie Jette Joseph E Stiglitz, Globalization and its Discontents, April 2003 / paperback / ISBN 0-393-32439-7/6 X8, You tube, Root cause of Xenophobic Attacks in South Africa, Added June 01, 2008, afrol News, 10 April, South African Unions face Globalization, Charlick, R. (2000) "Popular participation and Local Government Reforms" Africa Notes, New York: Cornell University, (April) pp1-5

More about The Negative Effects of Globalization on South Africa

Open Document