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African Growth and Opportunity Act: Myth and Reality

By Dr. Christian Ezeibe  et al

Summary

In this paper, we examined the African Growth Opportunity Act (AGOA) aimed at facilitating socio-economic growth and development in Africa in line with the neo-liberal ideology. We largely relied on centre – periphery model for our analysis and argued that African countries especially the Sub Saharan African countries expected to benefit from this US development policy would be unable to do so because they lack independent technological base, capital and manpower to permeate and compete in the American market. Again these states in Africa are in the periphery and US is a centre nation. While the later state expropriates the resources of the former because of this relative weakness of the periphery, the former designed AGOA as one of the strategies of intensification of US exploitation of Africa through trade. This paper calls for a global support for technology and capital exchange to enable African (Industries) to effectively compete in US markets.
African Growth and Opportunity Act: Myth and Reality
 
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Abstract

In this paper, we examined the African Growth Opportunity Act (AGOA) aimed at facilitating socio-economic growth and development in Africa in line with the neo-liberal ideology. We largely relied on centre – periphery model for our analysis and argued that African countries especially the Sub Saharan African countries expected to benefit from this US development policy would be unable to do so because they lack independent technological base, capital and manpower to permeate and compete in the American market. Again these states in Africa are in the periphery and US is a centre nation. While the later state expropriates the resources of the former because of this relative weakness of the periphery, the former designed AGOA as one of the strategies of intensification of US exploitation of Africa through trade. This paper calls for a global support for technology and capital exchange to enable African (Industries) to effectively compete in US markets.

About the Authors

Dr. Christian Ezeibe
Nnamani Desmond Okechukwu

Nnamani Desmond Okechukwu

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