Globalisation

Defining Globalisation; People have different understanding of this word. Some say it is the movement of people, language, ideas,
and products around the world. Some say it's basically the process of going to a more interconnected world. Others see it as the dominance of multinational corporations, introduction of capitalist methods and the destruction of cultural identities. Extracting from the “Globalisation website”, Globalisation broadly refers to the expansion of
global linkages, the organisation of social life on a global scale, and the growth of a global consciousness, hence to the consolidation of world society. Such a definition captures much of what the term commonly means, but its meaning is disputed. It encompasses several large processes; definitions differ in what they emphasise. Globalisation is historically complex; definitions vary in the particular driving force they identify. The meaning of the term is itself a topic in global discussion; it may refer to “real” processes, ideas that justify them, or to a way of thinking about them. (Ahmadu, 2013)

Globalisation we say is the relationship between countries of the world targeted at developing the less developed and and as a open market in which all economies of the world can trade products they each produced in there domain.

The question is; Is globalisation really developing the less developed region of Africa or putting her in a bad shape?

Some of the agencies established and task with the assignment of ensuring adequate globalisation are the United Nation, World Bank, International Monetary Fund and the Likes.

Looking into the trade aspect of globalisation, where Africa's products are been sold to the world, the products to be sold is either rejected for not been up to the required standard or been purchased at a price that is more or less than been dashed out by the seller of such product. Taking the sales of cocoa by most West African​ countries as a case study, before been exported for sales, there would have been series of grading and selection by the exporting country but when this product are been taking to the world market for sales, it is either the importing country brings up there own selection and grading system which will in no small way paralyse the cost of sales and production of this particular product, but when the bye product of cocoa(beverages) is to be sold to the African continent, the cost of purchase by the African countries is much more higher than the cost at which the raw materials is been sold.
Another example is the most common imbalance happening in my country (Nigeria). Crude oil a blessing which is being sold to be refined in other countries at a low cost by virtue of globalisation and sold back to the country at a relatively high price. The unpleasant point is, the price of exporting keeps decreasing while the cost of importing the refined crude oil keeps increasing.

Another Disease caused by globalisation is the unceasing degree of corruption on the Africa continent, Citing the borrowing nature of African countries from IMF as a case study, almost all if not all the African countries are indebted to this organisation in which the debt in which each government incurred has little or no development to the people of there respective countries. IMF is an organisation under the United Nation whereby Africa have no member among countries with the voting power of the body even though Africa is the one indebted to the organisation most.
With Africa having 80% in the list of Heavily indebted poor countries, the debt that the continent is incurring, is it been used to service the development of the region or the personal foreign accounts of it's leaders?

Using Nigeria as a case study, In 2012, Nigeria's external debt was an estimated $5.9 billion and N5.6 trillion domestic - putting total debt at $44 billion.

In April 2006, Nigeria became the first African country to fully pay off her debt owed to the paris club This was structured as a debt write-off of approximately $18 billion and a cash payment of approximately $12 billion. Another of the countries prominent debt is the $3.3 billion with London Club(2006 est.) With another Paris club fund meant to be use in servicing the internal debt of the country and paying off of all the workers salaries, it is no good news that the money meant for the development of the country is already back in the account of some of the top political office holders in foreign accounts, using the debt that is suppose to be for the development of the nation to service the economy of the creditors, whereas the debtors are languishing in the pains of underdevelopment and poverty.

Unless our stand is proven otherwise, we will conclude that globalisation is a boom to economic development in the areas of technological advancement and fast end-end interaction but its adverse effects as discussed above shows it has failed by empowering the stronger countries and keeping the less developed​ countries vulnerable.