The Potential Of Africa's Global Economic Integration

2458 words - 10 pages

Africa has long been thought of as a place where trade could not happen, especially on an international level. In recent times however, there has been a push to create more integration among African nations. These nations have realized the benefits which occur when firms are freely able to engage in investment from country to country moving away from the old protectionist policies of earlier years. As the textbook Global Business explains, these policies have, on numerous occasions before, triggered “retaliation that further restricted trade” (Peng, 2009). Governments there have also tried their hardest to change the image in the media of the continent and send signals to the public saying that they are indeed open to trade. To do so, they have used a series of tactics to push towards a more business-friendly continent. Many have shifted to being democratically elected governments focusing on the country and not just the ruling family. In addition, new laws have been implemented to combat corruption in an attempt to gain more integration. Many of their efforts have been successful and these efforts have made it attractive to do business there. With countries like Ghana experiencing economic expansion of a record 13.6% in 2011 and an overall growth rate of 6% for countries in the continent in 2012 (The Economist, 2011), well above that of any rivaling Asian country, it is paramount that regional and global integration occur and other regions and international nations take advantage of opportunities available. Some companies and countries have recognized the huge potential for trade and investment in Africa and are starting to get involved; for example China, who are choosing to accept the risk in exchange for profits, are becoming very successful there. As of 2008, Chinese outward foreign direct investment (OFDI) had grown to $515 billion dollars up from $40 billion in 1980 (Shen, 2012). It is difficult to believe that China would increase their investment if the continent were unprofitable. Despite this example though, many more countries and companies have not started investing. This paper will highlight the issues which have played a role in affecting the amount of investment which has occurred from foreign investors that lead to global integration. Three of these problems include media coverage, political instability, and corruption. These problems have made it appear virtually impossible to invest in the countries of this continent and made doing so “taboo” in the business world or the unenlightened investor. The continent is actually one of the most valuable and changes in policy as well as growing trends towards more stable governments are becoming the norm. Africa is not an easy region to start up and grow, but despite the issues that have been named above it is possible that, with creative, visionary leadership and a firm understanding of various cultures from country to country on the continent, there are numerous opportunities...

Find Another Essay On The Potential of Africa's Global Economic Integration

Regional Economic Integration and the European Union

993 words - 4 pages This paper will evaluate regional economic integration and its role in promoting global business and will discuss the advantages and disadvantages of it. The European Union (EU) will be looked at and discussed and the different countries involved in that union will be evaluated as well as their stage of economic development.The world is changing rapidly. One hundred years ago the world was very much separated by borders. With the advent of

The Global Economic Crisis Essay

788 words - 3 pages In the late 2000s, the World suffered from a big global economic crisis which caused “the largest and sharpest drop in global economic activity of the modern era”, in which “most major developed economies find themselves in a deep recession”, according to McKibbin and Stoeckel (1). Because its consequences have a very big impact to the whole world, many economists and scientist have tried to find the causes of the crisis; and some major causes

International business: "How companies can make the most of opportunities offered by increasing regional economic integration?'

1244 words - 5 pages Since the Second World War most of developed countries focused on economic growth and stability within their boarder as well as organizations within their policies tend to potential raise on international and local markets. In order to achieve this goal a lot of successful companies form economic cooperation. Famous type of such union is regional economic integration, that includes countries eager to improve their economic development and become

The Role of Southeast Asian Regional Integration in Promoting Global Business

1254 words - 5 pages regional integration, comparing the economic development stages of countries within the region, and examining the ramifications of the region's economic development for global business.Advantages and Disadvantages of Regional IntegrationIdeally, regional integration should increase efficiencies through competition and lower and reduce variation of prices across the region. Reality, however, often falls short of this ideal. Even in Europe where there has

The End of Integration

871 words - 3 pages Why The End of Integration?After four decades of school integration America has given up, and the question is: 'Why?'. I believe the answer is because absolutely nothing worked! Bussing was a hassle, most magnet schools were set up for false reasons, and everything was very costly. With everything they tried there were still no significant changes in the test scores of the minority students. So now here we are in the late 21st century and it can

The Global Distribution of Economic Activity Cuased by Globalization

1716 words - 7 pages .’ Another highly effective measurement for measuring inequality and distribution of economic activity is that of income per capita, this tells us how much of the global population lives in poverty (less than $1 per day). Whilst the top 10% of GDP earners receive approximately 100 times more than the bottom 10%, at that lower end of the spectrum ‘2.8bn people live on less than $2 per day, and 1.1bn

The US & Global Economic Trades

964 words - 4 pages export and import values. The evaluation will conclude by identifying countries that have the greatest trade surpluses with the United States. Assessment Economic integration aims to reduce cost and increase value for both producers and consumers through increased global trading of goods and services. Economist measure the health of a country’s economy using gross domestic product (GDP). GDP represents the value of goods and services produced

Role Analysis of Regional Integration MGT 448 global Business Strategies

1240 words - 5 pages to interact in a seamless manner without hindrances such as geography and cultural differences. A major influence on moving towards a global economy has been progressive trend toward the use of regional economic integration agreements. According to the text, International Business: Competing in the Global Marketplace, regional economic integration is "the agreements among countries in a geographic region, such as Asia, to reduce, and ultimately

The Cycle of Technology Integration

3141 words - 13 pages The Cycle of Technology Integration The cycle of technology integration begins with planning, investigation, and experimentation. Schools go through an initial stage of planning and experimentation in which a few educators begin using technology in new ways. Then, these individuals become technology proponents. The next step in the cycle of technology integration is initial capital investments. This allows the department to determine the

The Benefits of Medical Integration

2178 words - 9 pages The Benefits of Medical Integration William Collinge quotes Chuang Tzu in his American Holistic Health Association Complete Guide to Alternative Medicine saying, "Heaven, Earth and I are living together, and all things and I form an inseparable unity" (13). Tzu's comment contrasts the traditional American dream of individualistic power and solidarity, but no matter how ethnocentric or arrogant the Western society can be at times, the

Discuss the concept of global expansion and forces of disintegration and integration and explain the transformation in which a diversify MNC become a fully integrated global enterprise

3576 words - 14 pages of them; however, they must face many challenges to optimize their objectives.The purpose of this essay is, firstly, to explain the concept of global expansion. Then the contrasting forces of integration and disintegration will be presented. Thirdly, it provides the transformation in which a diversified MNC becomes a fully integrated global enterprise. Lastly, the implications for international managers as restructuring redefine power and

Similar Essays

A Critical Appraisal Of The Determinants Of Global Integration

1674 words - 7 pages . Today, many national economies have advanced into an integrated global economic system. This process of global integration has been termed Globalisation. (Hill, 2003)In this globally integrated society an Irishman (Paddy) may drive to work tractor that was assembled in Holland by John Deere from components made in Taiwan and Poland that were fabricated from British steel and Indonesian rubber. Paddy might have filled the tractor with diesel at a

When Cultures Collide The Challenges Of Global Integration

6237 words - 25 pages IntroductionCommunication is the final decision to be made about the global marketing programme. The role of communication in global marketing is similar to that in domestic operations: to communicate with customers so as to provide information that buyer need to make purchasing decisions. Although the communication mix carries information of interest to the customer, in the end of it is designed to persuade the customer to buy a product at

The Potential Effects And Ramifications Of Global Warming

1382 words - 6 pages For the first time in planet earth’s history, one of its inhabitants has acquired the power to change the global climate. By releasing the huge amounts of carbon stored in fossil fuels over millions of years, mankind has disrupted the natural carbon cycle. We have intensified the natural greenhouse effect and turned it into a planetary menace that is melting our ice caps. In his award-winning documentary, An Inconvenient Truth, Al Gore (2006

The Ecological Consequences Of Global Economic Growth

2079 words - 8 pages The Ecological Consequences of Global Economic Growth “There have been five ‘ mass extinctions’ in the history of the earth, when between 65% and 95% of all species were wiped out, due to natural processes of selection and evolution. Some scientists now argue that we are heading for a ‘sixth extinction’, caused by the actions of humans.” (Cock and Hopwood, 1996:17) In the following I’m going to look at the positive