How to Combating the Impacts and Promoting the Opportunities of Globalization in Ethiopia

How to combating the impacts and promoting the opportunities of Globalization in Ethiopia

Globalization is not a God-given, iron-clad law of nature or humanity. It is a set of concepts and policies made by human beings. And therefore it can also be reconceptualized, reshaped and changed. In theory, it is supposed to be for the good of all. In reality, this concept was designed by the developed countries on behalf of their companies and financial institutions. The purpose is to overcome the regulations set up by developing countries to promote their domestic economy and local firms which had been marginalized during colonialism.

The lesson of recent experience is that a country must carefully choose a combination of policies that best enables it to take the opportunity while avoiding the pitfalls. A country that is still poor or developing like Ethiopia may find that it is not wise to jump blindly into complete integration with the world economy, for this may open it up to many risks that can damage its local economy. It is wiser to engage in a selective and strategic integration with the world market. In this approach, the