IMPORTANT OF GLOBALIZATION AS ECONOMICS AND CULTURAL IN NIGERIA
Globalization has made countries to realize that nation can no longer be cocooned in their own cultural or economic nest but invariably be part of the larger picture which takes into account the competences interest and the dependencies of economics world – order. Globalization increase the world – wide interconnectedness of place and people through market information and capital flows human migration social and political institution. Globalization can be inveiwed as the integration of inputs and output into global markets the sharing of the information of rule governing such integration.
STATEMENT OF PROBLEMS
Globalization concurrently provides economic opportunities and economics threats. Moreso, its seem to be biased and has unequal consideration on countries. Above all developing economies are hold out for benefiting from globalization due to their economic status. Cross – country capital flow are growing rapidly, and domestics systems are consequently increasingly exposed to shocks emanating from abroad. Since cross boarder financial flow tend to be more volatile than domestic flows especially equity flows, such flows heighten the risk of financial crisis in many developing economics (Earnest 2004).
AIM
The purpose of the study was to find out the influence of globalization on the Nigeria economics, social and cultural in Nigeria.
OBJECTIVES
- To assess the impact of globalization on the socio-cultural development of Nigeria
- To determine the relationship between culture globalization and development.
DISCUSSION AND FINDING
Problem, finding is improve globalization.
THE ECONOMIC IMPACT DUE TO GLOBALIZATION
1. Globalization has given nations greater access to global markets technology, financial resources and quality service and skilled human resources.
2. Improvement in and greater access to quality goods and service and an exponential increase in the volume of trade.
3. Access to global capital resource via the stock market and informational debt depending on the economic potential of nation and their markets.
4. Access to technologies depending on the nation responsiveness to respect to production and the responsible usage of technologies.
5. Increase in export of goods and services in which nation have their respective competencies.
THE SOCIAL IMPACT DUE TO GLOBALIZATION
1. The free flow of information both general and commercial
2. Globalization has through greater exposure liberalized our attitudes reduced our biases and predisposition about people situation and communities worldwide.
3. The experience in Nigeria is of relevance because of the greater cultural and literacy diversity between states and the economic divide between the urban and rural area of Nigeria.
4. There has been a tremendous increase in consumerism, for goods and service whether necessary a perceived.
CONCLUSION/RECOMMENDATION
The process of globalization is not new. The globalization of the economics, social and cultural structure happened in all ages. Earlier the trace of such a process was so slow that well we hardly noticed. However, today into the advent of the information technology newer mean of communication have made the world a very small place. Not only the pace of the globalization process, but the penetration and information of the charges induced in our day to day life has made the impact of globalization many fold higher. With his process the world has can become one huge market place.
But seeing the effect of globalization, it can be said that very soon Nigeria will overcome these hurdles too and march strongly on its path of development.
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