Challenges Of Globalization In Africa

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

Its implications range from the trade and enthronisation flows that interest economists, to changes that we converge in our everyday lives: the help with which we stomach talk to people all over the world; the ease and speed with which data can be transmitted slightly 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 - simply it is human capital intensive, and therein lies one of the implications of ! globalization for economical and social policy. Second, globalization is not new. Economic globalization is as old as history, a reflection of the human take on 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 fox picked up in recent decades, thanks to three driving...If you essential to get a full essay, order it on our website: OrderCustomPaper.com

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