From Land Grabs to Big Oil: The New Scramble for Africa

Socialism 2017

August 15, 2017

The scramble for Africa’s wealth is in reality not new—it has a long and sordid history. From the era of the slave trade, the late 19th century colonial carve up of Africa, to neoliberalism today, where onerous debt regimes have been used to bend Africa to the dictates of powerful states and their multinational corporations, the exploitation of the continent by the West has been accompanied by economic stagnation, poverty, war and disease for millions. Today’s new scramble for Africa is unfolding in a period—once again—of heightened competition over Africa’s rich oil and mineral resources and the strategic geopolitical interests of a range of major powers, including the U.S., China, and Europe.

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