Trapped in development crisis and Balkanisation

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Description:

Undoubtedly, globalisation is a complex process. It is touted as having the potential to accelerate Africa's development if the continent's economies would be reformed in accordance with market principles. But clearly, globalisation is widening the disparities between the developed and developing economies. Africa's economies, in particular, are experiencing severe stagnation and, in some case, decline. By exacerbating Africa's development crisis, globalisation further poses a challenge to Africa. It emphasizes economic integration as the only viable alternative for survival in this New World order, and the urgency for a renewed commitment to the African Economic Community (AEC). Given the inherent weakness of existing regional integration schemes and the constraints in the development environment, there is also the need to reformulate the theoretical basis of the African Economic Community by incorporating the idea of "variable geometry" to enable countries to join the AEC as and when they can cope with the economic and political demands of integration.

Date Issued:

2000-06-01T00:00:00Z

Data Provider:

Michigan State University. Libraries

Collection:

African Journal of Political Science

Place:

Africa and Africa

Subject Topic:

Globalization, Economic aspects, and Economic development

Subject Name:

African Economic Community

Language:

English

Rights:

In Copyright

URL:

https://n2t.net/ark:/85335/m5319td6t