scholarly journals China, Africa and the International Aid System: A Challenge to (the Norms Underpinning) the Neoliberal World Order?

2021 ◽  
pp. 002190962110638
Author(s):  
Shaquille Ifedayo Gilpin
Keyword(s):  
Economic Development ◽  
Global Economy ◽  
World Order ◽  
International Aid ◽  
Strategic Partnership ◽  
African Countries ◽  
Poor Countries ◽  
System A ◽  
New Development ◽  
Development Route

The China–Africa relationship has received increased interest over the past few decades as scholars critically examine the challenge that China, in its quest for a closer strategic partnership with Africa, poses to the norms governing the neoliberal world order (NLWO). One crucial aspect of this is international aid, and how Chinese aid to Africa differs from Western aid. This paper argues that Chinese aid reduces the power of traditional aid donors to shape the development route of African countries. This new development finance ultimately breaks the monopoly of Western aid to decide how poor countries in the global ‘South’ develop. In doing so, the Sino–African aid relationship is challenging the current world order as it offers African states the possibility to decouple (or delink) themselves from the global economy. By challenging assumed neoliberal economic development fundamentals, this relationship, if harnessed correctly by African leaders, can pose longer-term ideological questions around the very set of ideas that underpin development itself, while enabling African states the policy space needed to pursue more sustainable development from an Afro-centric perspective. It is this possibility to delink, due to changing ideological fundamentals concerning economic development, that is the challenge China and Africa pose to the NLWO.

Power and Globalization in Africa: Perceptions of Barriers to Fair Economic Development in Kenya

2021 ◽  
Vol 20 (1-2) ◽  
pp. 77-97
Author(s):  
John Bosco Ngendakurio
Keyword(s):  
Economic Development ◽  
World Order ◽  
Global Market ◽  
Language And Culture ◽  
Poor Countries ◽  
Face To Face ◽  
The World ◽  
The Rich ◽  
First World

Abstract This article seeks to reveal the primary barriers to fair economic development based on Kenyans’ perceptions of power and globalization. This search was initially sparked by the seeming disinterest of First World scholars to understand the reasons why poor countries benefit so little from the global market as reflected in a subsequent lack of a wide-ranging existing literature about the subject. The literature suggests that global capitalism is dominated by a powerful small elite, the so-called Transnational Capitalist Class (TCC), but how does this relate to Kenya and Africa in general? We know that the TCC has strong connections to financial capital and wealthy transnational corporations. It also pushes neo-liberalism, which becomes the taken-for-granted everyday language and culture that justifies state policies that result in a further class polarization between the rich and poor. Using Kenya as a case study, this article draws on original qualitative research involving face-to-face interviews with Kenyan residents in different sectors who spoke freely about what they perceive to be Kenya’s place in the world order. My interview results show that, on top of the general lack of economic power in the world order, the main barriers to Africa’s performance are neo-colonial and imperialist practices, poor technology, poor infrastructure, general governance issues, and purchasing power.

scholarly journals Critical assessment of Highly Indebted Poor Countries (HIPIC) Initiative in Africa and the Implication of the New Partnership for Africa’s Development (NEPAD) (2001-2016): a theoretical perspective

2016 ◽  
Vol 13 (3) ◽  
pp. 380-386
Author(s):  
Emmanuel Innocents Edoun ◽  
Dikgang Motsepe
Keyword(s):  
Economic Development ◽  
World Bank ◽  
Theoretical Perspective ◽  
Debt Relief ◽  
Jel Classification ◽  
Critical Assessment ◽  
African Countries ◽  
Poor Countries ◽  
Socio Economic Development ◽  
The International Monetary Fund

Many African countries have been struggling to achieve sustainable economics in order to contribute in putting Africa in the path for socio-economic development. This is partly due to the burden of debt that hangs over many African countries that borrowed funds from multilateral partners irresponsibly. As a result of this, the International Monetary Fund (IMF) and the World Bank put in place in 1996 a strategy to provide debt relief to countries that were struggling to repay their debts. This debt relief initiative was reviewed in 1999 to provide adequate results. This paper is, therefore, a critical assessment of HIPIC and the implication of NEPAD from 2001 to date. Keywords: HIPIC, NEPAD, IMF, World Bank, socio-economic development. JEL Classification: H62, H63

scholarly journals The Convergence-Divergence Evaluation of the Countries Development under the Globalization

2020 ◽  
Author(s):  
Iryna Shemakhina
Keyword(s):  
Cluster Analysis ◽  
Economic Development ◽  
Global Economy ◽  
Scientific Evidence ◽  
National Income ◽  
Industrial Countries ◽  
Governmental Organization ◽  
Poor Countries ◽  
The One ◽  
Income Dispersion

The article considers the problem of uneven economic development in terms of processes of globalization and integration. The problem is analyzed retrospectively to estimate simultaneous convergent-divergent processes, which are characterized by the intensification of trade, investment and information flows, on the one hand, and their concentration in the hands of the powerful post-industrial countries, on the other. This causes the need for scientific evidence of uneven economic development of the global economy, what became an urgent issue of international economy. The article aims to evaluate the coefficient of variation, which was counted on the gross national income per capita, and conduct the cluster analysis. It was proven the divergence of the countries and rejected the s-convergence hypothesis, according to which the income dispersion between countries increased during the analyzed period. The cluster analysis shows the intensification of the the global inequality of the economic and social development, stratification, polarization and disproportions of the global economy. Article amplifies that the intensification of the globalization processes with its difficulties, nonlinearity and ambivalence leaded to the technological and social differentiation, in consequence of what many countries remain behind the developed ones. It is emphasized that convergent-divergent processes of the national economic development are expanding what leaded to the idea of the deglobalization. The findings are used to determine the current situation on the global economic arena and answer the question why some countries are rich and others are poor. It considers that the realization of the neoliberal model of the globalization is not effective and is accompanied together with the different destabilization tendencies. In this case institutional approach to the governmental organization of the globalization processes takes on special significance in aim to decrease the gap between rich and poor countries and to overcome present crisis.

scholarly journals Development trends of the current global economy

2020 ◽  
pp. 23-26
Author(s):  
Viktoriia DERHACHOVA ◽  
Viktoriia HOLIUK ◽  
Oleksandr ZGHUROVSKYI
Keyword(s):  
Developing Countries ◽  
Economic Development ◽  
Global Economy ◽  
Industrial Revolution ◽  
Developed Countries ◽  
World Market ◽  
Economic Convergence ◽  
African Countries ◽  
Current Trends ◽  
The World

Nowadays modern economics is going through a lot of changes, that makes Ukrainian businessmen track its all current trends to support the necessary level of competitiveness on the world market. The purpose of the paper is to research the current trends of the global economy and identify its prospects. The study has brought the following results. The authors identified that among the most significant trends that determine the future of the global economy are the following: economic convergence, globalization, changes in the ranking of economic growth leaders in favor of Asian countries, the growth of cryptocurrency markets, constant growth of the global debt, changes in the demographic map in favor of African countries. China, which has been considered to be the major driver of global economic development for the last decade, will gradually lose its positions to India. The article points out that today we can observe a phenomenon of economic convergence, which approximates level of economic development of different countries through faster growth rates of gross domestic products in developing countries compared to developed countries. The main causes of economic convergence include globalization, which has contributed to the spread of know-how, decline in the working-age population in developed countries compared to the rest of the world, increase in labor productivity in developing countries, and redistribution of the labor force of these countries toward higher productivity sectors. The study identifies the prospects for modifying the economic map of the world based on the following factors: increase in the rate of development of Asian economies, population growth and urbanization of certain countries in Asia and Africa, slowdown in the economic development of developed countries and the aging of European nations. The article identifies that all of these trends take place in the framework of the fourth industrial revolution, which largely determines these changes, shaping the sectoral and geographical structure of the global economic development and employment.

Peculiarities of Modern Dynamics of the Global Economy

2010 ◽  
pp. 78-92 ◽  
Author(s):  
V. Klinov
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Business Cycles ◽  
Global Economy ◽  
Long Waves ◽  
Rapid Expansion ◽  
Business Taxation ◽  
Modern World ◽  
China And India ◽  
World Economic

Rates and factors of modern world economic growth and the consequences of rapid expansion of the economies of China and India are analyzed in the article. Modification of business cycles and long waves of economic development are evaluated. The need of reforming business taxation is demonstrated.

Rising Inequality in the New Global Economy

2006 ◽  
pp. 84-89 ◽  
Author(s):  
N. Birdsall
Keyword(s):  
Developing Countries ◽  
Global Economy ◽  
Slow Growth ◽  
Global Markets ◽  
Modern World ◽  
Government Programs ◽  
Poor Countries

Reasons of high inequality in the modern world are considered in the article. In developing countries it interacts with underdeveloped markets and inefficient government programs to slow growth, which in turn slows progress in reducing poverty. Increasing reach of global markets makes rising inequality more likely and deepens the gap between rich and poor countries. Because global markets work better for the already rich, we should increase the representation of poor countries in global fora.

Our Debts Heavy... (on the Monograph “Debt as a Phenomenon of the XXI Century”)

2015 ◽  
pp. 152-159 ◽  
Author(s):  
T. Leonova
Keyword(s):  
European Union ◽  
Economic Development ◽  
Global Economy ◽  
Debt Financing ◽  
The European Union ◽  
National Economies

Lending capital, credit and debt financing have been around and used to fuel economic development since the time immemorial. There are innumerable studies by international and Russian scholars that look into the evolution of these notions and lending instruments employed. The collective monograph edited by A. Porokhovsky and published by the MSU in 2014 intends to provide an all-around political and economic as well as applied review of the current debt issues faced by the global economy, national economies of Russia, U.S.A. and countries of the European Union. It uses a variety of academic and methodological postulates that range from the reproduction approach to modern macroeconomic doctrines.

Structuralism as a Pamphlet (On the Book by E. Reinert “How Rich CountriesGot Rich... And Why Poor Countries Stay Poor”. 2nd ed.)

2014 ◽  
pp. 147-153
Author(s):  
P. Orekhovsky
Keyword(s):  
Economic Theory ◽  
Economic Development ◽  
Structural Analysis ◽  
Increasing Returns ◽  
The Other ◽  
Static Theory ◽  
Poor Countries ◽  
Historical School ◽  
Socio Economic Development ◽  
The Relationship

The review outlines the connection between E. Reinert’s book and the tradition of structural analysis. The latter allows for the heterogeneity of industries and sectors of the economy, as well as for the effects of increasing and decreasing returns. Unlike the static theory of international trade inherited from the Ricardian analysis of comparative advantage, this approach helps identify the relationship between trade, production, income and population growth. Reinert rehabilitates the “other canon” of economic theory associated with the mercantilist tradition, F. Liszt and the German historical school, as well as a reconside ration of A. Marshall’s analysis of increasing returns. Empirical illustrations given in the book reveal clear parallels with the path of Russian socio-economic development in the last twenty years.

Transformation of the intellectual capital structure and a growth in the significance of its components – human capital and intellectual property – in today's economy

2020 ◽  
Vol 16 (4) ◽  
pp. 745-758
Author(s):  
S.N. Larin ◽  
E.Yu. Khrustalev ◽  
N.V. Noakk
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Intellectual Property ◽  
Intellectual Capital ◽  
Global Economy ◽  
Information Technologies ◽  
Economic Community ◽  
Intellectual Activity ◽  
Accelerated Growth ◽  
Definition Of

Subject. Currently, as the global economy evolves, its innovative components should demonstrate a tendency of accelerated growth as intellectual capital, information technologies, increasing knowledge and digitization of mushrooming production processes. Nowadays, intellectual capital is one of the economic development drivers. However, the economic community is found to have no generally accepted wording of the concept, thus laying the basis for this article. Objectives. The study sums up the analysis of approaches used by the Russian and foreign economists to determining the economic substance of intellectual capital. We also identify the importance of human capital as its components and specify the definition of the concept. Methods. The article overviews and analyzes proceedings by the most renowned authors, which substantiate how the economic substance of intellectual capital should be unveiled, and suggest its definitions. Results. We specified the definition of intellectual capital concerning the current economic development. We suggest integrating a new component into intellectual capital, such as intellectual property, which includes products of intellectual activity and intangible assets. They can be owned by the entity or other legal entities and individuals, including some employees of the entity. Conclusions and Relevance. The specified definition of intellectual capital will help address issues of sustainable economic development and ensure the competitiveness of the Russian entities nationwide and worldwide, since it directly contributes to intellectual capital and its components.

Formation of background of sustainable development and transition to the «green» economy strategy

2020 ◽  
pp. 75-83
Author(s):  
L.Z. Khalishkhova ◽  
A.Kh. Temrokova ◽  
I.R. Guchapsheva
Keyword(s):  
Sustainable Development ◽  
Economic Development ◽  
Global Economy ◽  
Social Problems ◽  
Green Economy ◽  
Human Needs ◽  
Environmental Processes ◽  
Environmental Development ◽  
Current Stage

The article is devoted to the issues of measuring environmentally oriented economic development. The current stage of economic development requires the integration of environmental development, taking into account: environmental boundaries, biosphere processes, social problems, human needs and environmental processes. A green economy can become the main point of growth for the modern global economy. The article presents a complex of measures for the transition to a green economy, as well as tools for their implementation.

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