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Bamodu, ’Gbenga --- "Managing Globalisation: UK Initiatives and a Nigerian Perspective" [2006] ELECD 71; in Dine, Janet; Fagan, Andrew (eds), "Human Rights and Capitalism" (Edward Elgar Publishing, 2006)

Book Title: Human Rights and Capitalism

Editor(s): Dine, Janet; Fagan, Andrew

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781845422684

Section: Chapter 6

Section Title: Managing Globalisation: UK Initiatives and a Nigerian Perspective

Author(s): Bamodu, ’Gbenga

Number of pages: 24

Extract:

6. Managing globalisation: UK initiatives
and a Nigerian perspective
'Gbenga Bamodu*

I. INTRODUCTION
`Globalisation' has been one of the issues at the forefront of international
economic and political debate in recent years and is, arguably, the major
buzzword of the late twentieth and the early twenty-first century. Essentially
the term, particularly in its economics context, is used to refer to the notable
and relatively recent evolution in the nature of the global economy reflected
in the rapid increase in the level and speed of economic transactions, prima-
rily, across geographical divides and national borders. This evolution has
been brought about by a range of factors among which include, chiefly,
advances in technology and trade liberalisation. Various definitions have been
proffered as to the meaning of globalisation. According to one broad defini-
tion, `globalisation is a process of rapid economic integration driven by the
liberalisation of trade, investment and capital flows, as well as by rapid
technological change and the "Information Revolution"'.1 In a more simplis-
tic definition, a World Bank paper observes that `the most common or core
sense of economic globalization ... refers to the observation that in recent
years a quickly rising share of economic activity in the world seems to be
taking place between people who live in different countries (rather than in the
same country).'2
Trading across national borders is of course not a new activity but one that
is centuries old. There are, however, some factors that mark out globalisation
as a distinct ...