The Impact of Global Economic Integration on Africa in 21st Century
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Date
2019
Journal Title
Journal ISSN
Volume Title
Publisher
the Vestnik of Saint Petersburg University, Asian and African Studies
Abstract
Has global economic integration in the 21st century raised the hope of Africa beyond the tra ditional approach of providing aid to help her end poverty? Are there remarkable differences
in the approaches of some regional economic blocs like BRICS, Asia-Pacific Economic Coop eration (APEC) and multilateral groups such as IMF, World Bank etc. towards Africa? What
has been and should be the basis of bilateral or even, multilateral development relationships
between these groups and Africa? To answer the questions, the study explores the philosophy
behind the donor-recipient and equal partners’ approaches to development. It juxtaposes the
depredatory effects of the socio-political and economic conditionality that the West has in flicted on Africa (ranging from integrated rural development in the 1970s, to policy reform in
the 1980s, to governance in the 1990s, and respect for human rights in the 2000 (especially the
gay rights movement and so on) and alternative models. The paper observes that the burden
of foreign aid, loan agreement, economic and technical cooperation agreement, debt sustain ability, etc. have deepened Africa’s vulnerability rather than brighten its prospects in a global
market. By hinging its argument on the assumption that any global economic integration that
imposes political and economic conditionality in exchange for aid is anti-development, this
paper further submits that African countries should be free to negotiate their own pathway
out of poverty as equal partners in development. Only by comparing and exchanging views,
rather than tutorials, the more useful engagement between Africa and the rest of the world
could become possible. It concludes that mutually–beneficial relations between Africa and
economic cooperation blocs will become possible, but only if African governments can take hold of these opportunities in ways that will benefit their people. Africa governments should
focus on win-win approach that is not about aid but business
Description
Keywords
Africa, Integration, Economic impact, Globalisation
Citation
Adebayo P.F., Onyekpe J.G.N., Afolabi A. S. The Impact of Global Economic Integration on Africa in the 21st Century. Vestnik of Saint Petersburg University. Asian and African Studies, 2019, vol. 11, issue 2, pp. 223–235. https://doi.org/10.21638/11701/spbu13.2018.207