Question

Perspective of development and underdevelopment globalisation

Answer 1

Answer:

Explanation:

There are two contending opinions on the issue of globalization. There are some observers who believe that globalization has brought rapid prosperity to the underdeveloped countries while others argue that globalization serves the needs of the metropolitan countries at the expense of the peripheral countries. This paper posits that globalization is economic terrorism. Using a dependency theory to analyze the asymmetric relationships between the developed and the underdeveloped countries, the writer applies some economic indicators to highlight the widening gap between the two worlds. In doing so, it is argued that the socio-economic and political structure of the peripheral countries are subordinated via globalization to foster the economic interest (the superstructure) of the metropolitan countries. Although several studies have been done on the issue of globalization, there has been no systematic study done to link the activities of both the governmental and nongovernmental organizations in terms of their impact in the international political economy. This holistic approach is an attempt to fill that vacuum. Drawing from the experience of Nigeria and some other underdeveloped countries in enhancing our understanding of how globalization accelerates the underdevelopment of the periphery, the roles played by the multinational corporations, Western media technology, the lone superpower, World Trade Organization, and International Monetary Bank/World Bank, are subjected to the test of empirical reality and logical plausibility.