Topic > Out Of Africa Theory: The Causes of Globalization in…

However the advantage of owning these resources has turned into a bane for the African people. The phenomenon of globalization has become one of the main causes of conflicts in Africa. African nations possess natural resources, but due to their technological and scientific backwardness they lack the ability to exploit these resources. As a result, these nations are forced to invite multinational corporations (MNCs) to carry out exploration and production of these resources. These multinational corporations hold enormous monetary power to manipulate the economy of African nations. Africa's vast natural resources, cheap labor and huge consumer markets are crucial to their economic plans. Due to the fragile leadership of African nations, these multinationals resort to large-scale exploitation of national resources, corruption, violation of environmental laws, and manipulation of governments and media. Sometimes these multinationals also procure weapons and provide weapons training to both government and insurgent forces. Their interests are better served by incessant wars and conflicts than by peaceful conditions. When African governments try to borrow loans and financial aid from financial organizations such as the World Bank and the International Monetary Fund (IMF), they are forced to open their economies, devalue their currencies, eliminate subsidies and liberalize their policies commercial, all these steps are generally aimed at favoring these Western multinationals. These liberalization measures have led to the destruction of national industries and large-scale unemployment in African society. To satisfy their economic greed, multinational corporations have used exploitative measures that have led to the destruction of tribal areas, pollution of water sources such as rivers, large-scale deforestation and ecosystem destruction. Globalization has made the economy