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The Effect of Globalisation on the Nigerian Economy

In: Business and Management

Submitted By okeydiyoke
Words 3758
Pages 16
On

OKECHUKWU DIYOKE DIOKC81 |

1

INTRODUCTION
An economy refers to the full network of distributers, producers and consumers of goods and services within local, regional or national communities. Globalization refers to the process of the increase in economic, political, social and ethnic relations across international boundaries.
Globalization is aimed primarily at the constant theories that shape the political and socioeconomic development of nations across the globe. It looks at the continued increase in the collapse of trade barriers and increased world trade and integration; globalization can be seen as an extension that regularly restructures the way nations interact amongst themselves by breaking down their individual barriers in areas of culture, commerce, finance, communication, and several

other

fields

of

struggle.

This on-going change

can

be

seen

from

its thrust of legitimate governance, liberal democracy, gender equality, environmental stability, and free market economy among other aggregate values for people of the member states.
Globalization creates a compelling inclination for the systematic development in the modern world today as a result of the problems it poses to the states in the form of challenges.

This essay looks at the definition of globalisation, the concept of the process of globalization, and how it affects the Nigerian economy.

OKECHUKWU DIYOKE DIOKC81 | 22/08/11

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THE CONCEPT OF GLOBALISATION
Many theories have been put forward as to the explanation of globalization some of these are positive while some are negative, but all of them have a general term used in the definition of globalization, they describe it as 'a process'. This process can be classed in three dimensions, the first being the definition of globalization as a regular trade or exchange of labour, skill, capital or goods between existing units or nations....

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