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No. of pages: 78

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Abstract:

Nigeria-United States relations remain a critical aspect of Nigerian foreign policy. The demands, challenges and competition of this 21st century have made it pertinent
that Nigeria review her relation/interdependency with United States in order to benefit maximally from their relation. One would have thought that Nigeria-US economic relation since 1960 would have moved Nigeria from being a Third world nation to at least a Second world nation but like the story of any other developing economy dealing with developed economy, Nigeria has remained the same if not worst. Nigeria has remained just a market for the U.S. to buy her crude oil and sell her manufactured goods. United States, adopted the policy of globalization, democratization, free market and liberalism.
However, one may say that the reason behind US democracy in Africa is to create “FREE ATMOSPHERE” for the implementation of International Monetary Fund and World Bank inspired Adjustment programs, thereby reinvigorating the type of market, which made Europe prosperous.

Globalization has been viewed as the bilateral relations that exist between countries for either political or economic purpose and also a means of developing the underdeveloped countries with technological advancement from developed countries. Globalization remains a subject on which there has been comprehensive and unyielding misunderstanding especially concerning the constraints that it is not placed on the power of government. It describes the increasing flow of goods, services, capital, technology, information, ideas and labour at the global level driven by universal policies and technological changes (Okafor, 2014). At the top political and economic levels, globalization is the process of denationalization of markets, policies, and legal systems and at the economic level, it is seen as the process of cooperation between and among their factories and products around the world at ever more rapid rate of speed in search of cheaper labour, raw materials and a government willing to ignore or abandon consumer, labour and enforcement protection laws (Okafor, 2014). It is a process or set of processes that embody transformations in the spatial organization of social relations and transactions generating transnational and interregional flows and network of activities.

In concrete terms, globalization is the intensification of cross-border trade and increased financial and foreign direct investment flows among nations, promoted by rapid advances in and liberalization of communication and information technology (Islam, 1999 and Aninat, 2002). Held (1999) argues that globalization is multi-faceted phenomenon.

The broad objective of this study is to critically examine the impacts of globalization on interdependence of develop and developing sovereign states, examine the various impacts of globalization on political space of interdependent sovereign states, and also investigate how globalization has led to interdependence of developed nations and developing sovereign states.

A research study of this nature will shed light on some of the benefits of globalization and its various impacts on interdependence of developed and developing sovereign states. The study will serve as an important database for federal, state and local government on ways of improving development in Nigeria through globalization.

This research study will cover the impact of globalization on interdependence of developing and developed sovereign states using United States of America and Nigeria as case studies.