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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:U.S. trade with Angola and Mozambique
Author:Anonymous
Year:1970
Periodical:Africa Today
Volume:17
Issue:4
Pages:16-18
Language:English
Geographic terms:Africa
Portugal
colonial territories
United States
Subject:international trade
External link:https://www.jstor.org/stable/4185104
Abstract:The monetary system binding Portugal and its colonies is based on multilateral clearing operations among the various territories and ultimately channels foreign exchange earned by Angola and Mozambique into Portugal's coffers. Statistical information is given on the trade relations between the U.S.A. and Angola and Mozambique. The U.S.A. buy more than 50% of Angola's robusta coffee, the country's biggest export. The major U.S. purchase in Mozambique is shelled cashew nuts (in 1968 more than 80% of the total available). When the U.S. buys coffee from Angola it helps to entrench colonialism, both by the direct income they create for the white settler farmers and by the foreign exchange which they pump in the metropolitan escudo zone of Portugal. The rise of the export of Mozambique's cashew production to the U.S. does not produce any significant benefit for the people of Mozambique. In Guinea-Bissau there are no promises of instant profits for Portugal or foreign investors. Yet Portugal hangs on doggedly, for political reasons, in Guinea-Bissau, and for strategical reasons, on the Cape Verde islands. Notes, table.
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