Strategic Alliance as a Catalyst for Restructuring of the Global Economy: A Theoretical Perspective

  • Eke, Donatus Izuogu Department Of Business Administration, Faculty Of Social And Management Sciences, Airforce Institute Of Technology, Kaduna- Nigeria
  • Ubabudu, Mary Chinelo Department Of Business Administration, Faculty Of Social And Management Sciences, Airforce Institute Of Technology, Kaduna- Nigeria
DOI: https://doi.org/10.17605/cajitmf.v3i10.329
Keywords: Alliance, catalyst, global, knowledge, restructuring, strategy, economic planning

Abstract

As the global economy evolves into a new order of sustainable peace and development, strategic alliances may serve as a model for re-aligning it towards sustainable peace and development. The paper’s objective is to critically assess the current positions/status of various countries around the world, with a focus on the distinction between under-developed, developing and developed countries as well as regional integrations and separatists associations or groupings. This is done in order to highlight the need for repositioning or restructuring the global economy. The paper adopted a theoretical perspective with a view to unveiling the critical indices within the variables of interest and proposed a new direction in the academic genre of world economic conferences. The paper concludes that the world economy is evolving and emerging trends indicate a tumultuous transition that requires global attention, rather than separatists approach by individual nations or groups. The paper therefore, recommends, (i) immediate convocation of international/global conferences on economic restructuring cutting across all nations, irrespective of the status in economic growth; (ii) a re-alignment and adjustments in the barriers posed by nations on inter-regional employments; (iii) an increased tempo in cross-border exchange in various relationships in entrepreneurship studies as well as other key educational and skill development programmes, (iv) cross-fertilization of ideas, skills, competences and knowledge across nations irrespective of creed, color or location; (v) a total re-skilling, re-tooling and reinvigoration of mutual co-existence rather than rugged individualistic and self-reliance approach of nations. The paper is significant in policy analysis and global economic planning.

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Published
2022-10-19
How to Cite
Izuogu, E. D., & Ubabudu, Mary Chinelo. (2022). Strategic Alliance as a Catalyst for Restructuring of the Global Economy: A Theoretical Perspective. Central Asian Journal of Innovations on Tourism Management and Finance, 3(10), 99-108. https://doi.org/10.17605/cajitmf.v3i10.329
Issue
Vol. 3 No. 10 (2022): October 2022
Section
Articles

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