The Free Trade Fantasy

Carlos Lopes ()
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Carlos Lopes: University of Cape Town

Chapter Chapter 8 in The Self-Deception Trap, 2024, pp 165-191 from Springer

Abstract: Abstract Free trade is fêted as a cornerstone of a competitive economy, essential to build prosperous nations and create socioeconomic benefits. But in Africa, this has not been a universal experience. Far from integrating African economies into the world economy, free trade appears to have cemented Africa’s marginalisation. This is largely because trade agreements have been systematically used to impose norms, standards, and preferences that perpetuate extractive colonial structures and create a dependency on external trade partners for processed products. This chapter provides a background to and overview of the trade agreements that have shaped African trade, including a deep dive on EPAs, which brought about a sea change in how Africa engaged with its largest trading partner, the EU. We also highlight the EU’s conflicting involvement with the AfCFTA process and how this is influencing Africa’s positioning on trade issues as the AU attempts to redefine its trade relationships in a way that prioritises African interests, aligns with continental goals, and contributes to sustainable development.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-57591-4_8

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DOI: 10.1007/978-3-031-57591-4_8

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