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 actu in ally much for the invitation to participate, on behalf of the International Monetary Fund, in this convention on globalization. It is a joy and an honor to be here. except I must proclaim to a certain hindrance in speaking on the second day of the conference, for approximately everything that should be said has already been said, especi eithery in the excellent speeches at the opening session. Nonetheless, allow me try to give a linear perspective from the IMF, starting with a few general points. First, globalization is multi-faceted, with many an(prenominal) important dimensions - frugal and social, political and environmental, ethnic and religious - which make everyone in or so way.

Its implications range from the trade and investment funds flows that interest economists, to changes that we impose in our everyday lives: the relaxation with which we house talk to people all over the world; the ease and speed with which data can be transmitted approximately 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 non particularly pricey or capital intensive - notwithsta nding it is human capital intensive, and the! rein lies one of the implications of globalization for frugal and social policy. Second, globalization is not new. Economic globalization is as old as history, a reflection of the human tantalise 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 beat picked up in recent decades, thanks to three driving...If you loss to get a full essay, order it on our website: OrderCustomPaper.com

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