ABSTRACT
This chapter examines the political implications and the likely responses of African economies to the challenges and opportunities of the emerging world order. It aims to put into a proper context the impact of unfolding Euro-Africa relations in the post-Cold War period. At the very heart of Euro-Africa relations are inordinate structural inequalities between the EU and African states. Structural changes in capitalist accumulation ushered in a new era of North-South relations at the end of the Second World War. The more eloquent and extreme proponents of globalization refer to the current wave of the process as the New World Order, which encompasses a wide range of phenomena, from the internationalization of economic activities to the globalization of national cultures, politics, environment and security. Africa is also becoming increasingly marginalized in international diplomacy. African political economies need more than the consolidation of democratic practices, preferential market access and foreign investment from Europe.
