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| Title: | Africa in a changed world economy: building relations for the transformation in the 21st century |
| Author: | Campbell, Horace G. |
| Year: | 2013 |
| Periodical: | The African Review: A Journal of African Politics, Development and International Affairs (ISSN 0856-0056) |
| Volume: | 40 |
| Issue: | 1 |
| Pages: | 14-57 |
| Language: | English |
| Geographic terms: | Africa Asia |
| Subjects: | economic development international relations global economy |
| Abstract: | Since the financial crisis of 2007-2008 when the financial markets imploded, there has been a growing awareness of the fragility of the international capitalist system. This paper examines the contradictory experience where there is austerity in Europe and North America, when Africa is experiencing tremendous growth, with seven of the fastest growing economies of the world. The paper underlines four major features of the changed world economy: (1) the looming end of the European project (most manifest in the comatose state of the Euro), (2) the consolidation of radical alternatives in Latin America (especially moving towards one currency), (3) the revolutionary changes that have been initiated in the streets of Cairo, Egypt, and (4) building peaceful relations and the opportunities for energy transformation which could lead to repairing planet earth away from impending environmental cataclysms. These four changes are examined in the context of relations between Africa and Asia, drawing from experiences of China and Vietnam. These relationships were honed within the context of non-aligned movement and anti-colonial struggles. The paper notes that questions of transformation will now have to be clarified to specify whether these transformations are within the framework of capitalist 'development' or that of a new mode of social and economic organization. It concludes by discussing how intellectuals and activists can assist in the transformation of society and to develop human potential in self-emancipation. Bibliogr., notes, sum. [Journal abstract] |
