Essay Caribbean Challenges

Essay Caribbean Challenges-88
And just like Scholte argued that situations occurring in a country thousands of miles have a way of affecting the economic, social and political situations in one’s country, the rising up of capitalism in the United States and Socialism/Communism in the Soviet republics were to Ghana’s benefit as they assisted in the achievement of independence.The same thing for Nigeria, Rwanda, and a whole lot of other developing countries in which occurring world events positively impacted their abilities to achieve self-rulership.This widely accepted definition shows the way in which globalization today connects the cultures and communities in one corner of the world to development occurring in another country.

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Taking the case of Ghana for example, ‘the end of the Second World War was significant for Ghana’s gaining independence and a turning point in the history of the Gold Coast’ (Ofosu 2010).

The only catch to this is that the bulk of these capital flows so far is strictly limited to a small number of developing countries, especially the big ones such as Nigeria, Ghana, South Africa, India, Brazil, China, etc.

‘The report on financing for development prepared for the UN Secretary-General notes that, during the period 1993 to 1998, 20 countries accounted for over 70 per cent of all FDI inflows to all developing countries’ (Bertucci & Alberti 2001).

Looking critically at the concept, globalization in its broadest sense can be said to be a prismatic, complex, and multidisciplinary topic.

It can be examined from several angles which includes not only economic, the most common viewpoint, but also social, cultural, ideological and political ones.

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