Context: Knowledge and Comprehension Application

How Africa decides to approach globalization must be determined by its most urgent goals: accelerating economic growth and development and eradicating poverty, which is not only widespread but deep and severe in some countries. At the beginning of the twenty-first century, poverty remains Africas most pressing problem, and economic growth is the sine qua non of poverty reduction. Thus, Africa needs to achieve, as quickly as possible, growth that is both sustained and rapid.

Question 3: Compare and contrast how the following two countries approach globalisation in Africa and evaluate how they have benefited their economies?

South Africa and Rwanda

Choose three only factors to compare and contrast in your answer.

Key Points for your answers:

Trade barriers for imports, resources

Political economy (corruption, human rights, and government policies)

Infrastructure development (accessibility to markets)

Good governance (democratic principles or dictatorship)

Foreign Direct Investment (easy access, IMF Frameworks)

Macroeconomic policies

Geography (location advantages and disadvantages)

Risk minimisation

Debt management (Fiscal policies)