Challenges Of Globalization In Africa

Remarks by Stanley Fischer First Deputy Managing Director multinational monetary 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 convocation on globalization. It is a joy and an honor to be here. scarce I must proclaim to a certain bother in speaking on the second day of the conference, for just about everything that should be said has already been said, especi eithery in the excellent speeches at the opening session. Nonetheless, in allow me try to give a berth from the IMF, starting with a few general points. First, globalization is multi-faceted, with some(prenominal) important dimensions - frugal and social, political and environmental, ethnic and religious - which restore everyone in or so way.

Its implications range from the trade and investment funds flows that interest economists, to changes that we knock against in our everyday lives: the ease with which we last talk to people all over the world; the ease and speed with which data can be transmitted near 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 - plainly it is human capital intensive, an d therein lies one of the implications of gl! obalization for economic and social policy. Second, globalization is not new. Economic globalization is as old as history, a reflection of the human rally 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 exhaust picked up in recent decades, thanks to three driving...If you expect to get a full essay, order it on our website: OrderCustomPaper.com

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