By George Klay Kieh, Jr.

Globalization isn't a brand new phenomenon within the overseas approach evidenced by means of a number of the efforts which were remodeled the final a number of centuries to set up a so-called 'global village' with a number of spheres - cultural, monetary, ecological, political, social - and so forth. despite the fact that, a few of the levels of globalization have had divergent scope, actors, dimensions and dynamics. that's, all the stages of globalization may be differentiated utilizing the aforementioned markers. in contrast heritage, this booklet specializes in the 'new globalization' a part that emerged while the chilly battle ended. between different issues, the recent globalization is the main expansive and technological complicated of all the stages of globalization. for instance, the hot globalization has witnessed the mixing of almost all states of the area and non-state actors into the worldwide capitalist method. the ensuing effects have differed from state to state and quarter to sector. during this vein, this publication identifies many of the frontier matters in Africa - debt, human rights, improvement, kingdom sovereignty, the surroundings, democratization, the HIV/AIDS pandemic and communications - which are being impacted through the dynamics of this new globalization.

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T. Kearney, 2005, p. 33). 7 billion during the same period (Kearney, 2005, p. 33). However, Africa barely captured 3 percent of total global FDI (Kearney, 2005, p. 33). Two major currents have propelled the growth of foreign investments. The phenomenal development of technology has enabled corporations to spread the ambit of their activities across the global economy. The other is the liberalization of the economies of various states and the attendant opening up of their markets. Given the growing importance of energy, substantial new private investments are being made in the oil sector, especially in various peripheral economies.

The United States has targeted this area as being critical to its national interest. With the very relaxed and ineffective environmental regulations in African states, The New Globalization: Scope, Nature and Dimensions 21 multinational corporations in these sectors – oil and minerals – will have a free hand to engage in production activities that would adversely affect the environment – air, land and water pollution. Moreover, there is the problem of pervasive deforestation evidenced by the felling of trees by corporations and private individuals in response to the demands for logs.

Furthermore, the volume of trade between and among peripheral states continues to be negligible. This is because as producers of raw materials peripheral states do not have many goods to trade with one another. Hence, the direction of trade from the periphery continues to point to the markets in the core states. Environmental Globalization The vortex of the environmental lacunas generated by the “new globalization” is burgeoning economic growth. In turn, this development has precipitated increased economic activities and greater consumption (Esty and Ivanova, 2004, p.

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