Challenges Of Globalization In Africa

Remarks by Stanley Fischer First Deputy Managing Director multinational financial Fund at the France-Africa Summit Yaoundé, Cameroon January 19, 2001 President Biya, Your Excellencies, Ladies and Gentlemen: Thank you very much for the invitation to participate, on behalf of the International Monetary Fund, in this convocation on globalization. It is a joy and an honor to be here. however I must proclaim to a certain worry in speaking on the second day of the conference, for almost everything that should be said has already been said, especi eithery in the excellent speeches at the opening session. Nonetheless, every(prenominal)ow me try to give a attitude from the IMF, starting with a few general points. First, globalization is multi-faceted, with many another(prenominal) important dimensions - frugal and social, political and environmental, ethnic and religious - which equal everyone in or so way.

Its implications range from the trade and enthronement flows that interest economists, to changes that we turn over in our everyday lives: the ease with which we keep going talk to people all over the world; the ease and speed with which data can be transmitted rough the world; the ease of travel; the ease with which we can see and hear cleans and cultural events around the world; and most extraordinarily, the internet, which gives us the ability to admission the stores of knowledge in virtually all the worlds computers. Equally remarkable, as was said yesterday, internet technology is not particularly pricey or capital intensive - solely it is human capital intensive, and therein lies one of the implications of globalization for e conomic and social policy. Second, global! ization is not new. Economic globalization is as old as history, a reflection of the human fight off to seek new horizons; globalization has usually advanced, though it has sometimes receded - most importantly, during the 1930s, the advance to World War II. The pace seems to stomach picked up in recent decades, thanks to three driving...If you regard to get a full essay, order it on our website: OrderEssay.net

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