Globalization finds expression in the process whereby the transmission of knowledge, skills, attitudes, abilities and behaviour cease to be geographically fixed, partly as a result of technology, also through international media. Globalization is a process driven by trade liberalization, modern technology and democratic government and aided by global organizations. Globalization has also been described as a multi-dimensional process of unprecedented rapid and revolutionary growth in the extensiveness and intensity of global interconnections, encompassing globalization of democracy, global technology, revolution in information and communication technology and increasing globalization of culture, but more importantly, globalization of the economy (United Nations Development Programme, UNDP, 2001). The United Nations sees globalization as the reduction and/or removal of barriers between national borders in order to facilitate the flow of labour, capital, goods and services. The researcher uses historical research and content analysis techniques in achieving its aim, because of the nature of the study. The paper addressed the following questions: What is globalization? What is economic globalization? What are its implications for economic development, particularly in Africa? What are its potential benefits? What will developing countries have to do to benefit from it and avoid its downside risks?

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