The Web of Globalisation. Africas Position in International Trade

Essay from the year 2019 in the subject Business economics - Trade and Distribution, grade: A, University of Cape Coast (CENTRE FOR AFRICAN AND INTERNATIONAL STUDIES), language: English, abstract: Although international free trade is relatively a new practice, many forms of trade between different parts of the world have been in existence for a long time. The end of World War II, there had been improvements in relations among states. Thereby, creating interconnectedness among between states and this has caused upsurge in global trade liberalisation. These developments have made the exchange of goods and services among states easier than any point in modern history. As a result, many scholarly works have examined the importance of international trade and globalisation to countries across the world. This essay adds to the existing debate by exploring the four advantages and three disadvantages of international trade and globalisation to Africa. The essay is presented in four sections; the first part gives a brief historical account of international trade. The second section explores the benefits or the opportunities of international trade and globalisation to Africa, and the third section discusses the disadvantages of international trade to the continent. The final section suggests ways by which African countries to approach international trade and globalisation. Although international free trade is relatively a new practice, many forms of trade between different parts of the world have been in existence for a long time. The end of World War II, there had been improvements in relations among states. Thereby, creating interconnectedness among between states and this has caused upsurge in global trade liberalisation. These developments have made the exchange of goods and services among states easier than any point in modern history. As a result, many scholarly works have examined the importance of international trade and globalisation to Africa.