Benefits Of Economic Globalization On South Africa

1346 Words Nov 21st, 2016 6 Pages
GVPT200-Essay II

South Africa has reaped the benefits of economic globalization first hand as it has emerged to become a major economic power in Africa, especially in recent years. This country has been infamously plagued by apartheid, an inhumane policy of segregation based on grounds of race, which also had economic consequences as trade sanctions were established in 1986 by the United States in response to South Africa’s policy of apartheid. However, apartheid ended in the 1990s and the South African Development Community was created in 1992 in order to promote economic development through free trade zones in other regions in Africa. South Africa also signed free trade agreements with other regions, including Europe. I am interested in analyzing South Africa from 1991 when severe trade sanctions imposed against South Africa were repealed by the United States to 2010 when South Africa became part of the esteemed BRICS countries, a major indication of global economic success. The independent variable is therefore economic globalization, stimulated by the rescinding of the punitive trade sanctions by the United States in 1991, while the dependent variable is whether South Africa has done better or worse since 1991 when it became more connected to the global economy. The indicators for the independent variable are the number of level of trade barriers, the repeal of Comprehensive Anti-Apartheid Act, openness to free trade and free trade agreements, exports, and…
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