CPOstudyguide - Arrighi- The African Crisis - Eco decline...

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Arrighi- The African Crisis - Eco decline in Africa is related to the US reversal of Int’l funding in the 80’s- Countries that were dependent on the $ for dev. Were hit with a drought of foreign funding-leading to dev. Decline *THIS IS THE MOST SIGNIFICANT REASON FOR FAILURE - 3 reasons Africa did not advance like asia 1) Labor- theory that underdeveloped countries have endless cheap labor supply Apply to Africa- b/c of slavery lost majority of labor force 2) entrepreneurship- colonial practices meant that Africans were barred from Owning businesses- ultimately missed the chance to learn how business works 3) state and Nat’l eco. Reform- Asia was aided by US during cold war, allowing Their ecos to “take off”; also the fact that the US gave Asia trade privileges Africa did not receive - Basically Africa had more bad luck than bad policy Bello- Prospects for Good Global Governance - Prebisch= declining terms of trade between Africa and US - IBRD/WB- originally designated to rebuild euro- developing countries turned to it for funding for dev *WB is largely funded by the US and the Pres is always American - Dev countries pushed SUNFED(special un fund for eco dev) which would be Controlled by UN, not US - OPEC= symbol of the south- bargaining tool to prevent N countries from getting out of control - SAP’s were used to streamline industries through privatization and “cutting fat” so that they could continue paying back their debts - “taming the tigers”
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This note was uploaded on 04/18/2008 for the course CPO 2001 taught by Professor Kraus during the Spring '08 term at University of Florida.

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CPOstudyguide - Arrighi- The African Crisis - Eco decline...

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