Publisher: University of Calabar

An Existential Analysis of The Neo-Liberal Argument For Globalization In Africa

Godwin, Onos Idjakpo (ph.d), Nelson, Udoka Ukwamedua (ph.d), Omokpo, Victor
KEYWORDS: Africa, Globalisation, development, Neo-liberals, economy (ies), dependence

ABSTRACT:

The existential implication of globalization especially for the developing countries and their economies has preoccupied the minds ofscholars mostly in
the arts, humanities and social sciences. Neo-liberalism which is built on the tradition of laissez-faire economies and uninhibited market forces holds that
globalization is a sure pathway to even global development because it has the potential to yield maximum gains. Hence, neo-liberals prescribe that
globalization should be met with full-scale liberalization, deregulation and privatization, so as to ensure prosperity and peacefor all This is however contrary to the arguments ofthe dependence and Neo-Matxist contenders who rebuff the claims of the neo-liberal tradition, submitting that the rules of the game are weighed against Africa and their likes. The paradox then is; whose interest does globalization serve? This paper therefore employing theexistential analytic tool, reasons that contrary tothe commonly held views, globalization in its current shade does portend good opportunities for Africa to expand and grow especially with the present world economic order. This paperargues that Africa and their likes can indeed creatively and carefully access and enjoy the
evergreen fruits that come with globalization while it also minimizes the obvious challenges and risk associated with it.



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