Sub-Saharan Africa After 2000

Lynne Ciochetto, Usha C. V. Haley and George T. Haley

Chapter 2 in China versus the US, World Bank and IMF in Sub-Saharan Africa, 2023, pp 15-67 from World Scientific Publishing Co. Pte. Ltd.

Abstract: External agents have been exploiting Sub-Saharan Africa (SSA) since the beginning of the slave trade. The agents of contemporary exploitation include multilateral and bilateral agencies, governments through their aid and loans and multinational companies. Key tools of recent exploitation have been the leveraging of debt and the imposition of neoliberal policies. Local elites implemented the neoliberal policies in order to continue borrowing (Bond, 2006). SSA has also been subject to evolving ‘fashions’ in development theory and practise, dominated by the World Bank (WB) and International Monetary Fund (IMF) (the Bretton Woods Institutions or BWIs). Since the late 1970s, the result of these policies has been to increase the net outflow of wealth from Africa (Action Aid, 2005)…

Keywords: Sub-Saharan Africa; China; Development; Neo-Colonialism (search for similar items in EconPapers)
JEL-codes: F13 (search for similar items in EconPapers)
Date: 2023
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