World economy: African countries status - Dependence or interdependence?

Le 05 novembre 2011 par IVOIREBUSINESS - In a sense, african countries are the most international of all! Many have vulnerable

economies heavily dependent on the export of one , two or three commodities:For example "Cacao" and "Coffee" account almost more than half of the exports in the "Ivory Coast"! Others are indebted to international banks(Fmi, world bank, bretton woods)...Let's take the conspicuous example of the "Ivory Coast", over half of the ivorian earnings should go on paying off the interest on its massive debts;Still others, particularly among the poorest countries of the african countries can barely survive without support of the international bodies and assorted charities.None have even the modest insulation from the world economy provided by the large, diversified domestic markets of the United states, the european community and China!In the same trend ivorian president "Allassane Ouattara" went on trip the past three months in the United States so as to beg in vain for urgent economic aid .Unfortunately, the so called first super power in the world is still going through a deep recession, and also has to rely to some extent on chinese economic assistance:And here the relevant question is, why does underdevelopment persist in the whole AFRICA?Two main theories exist side by side:On the other hand, the liberal theory argues that opening up the economies of the african countries for free trade and international competition is the only way forward!Meanwhile, this theory is severely critical of the way many ruling politicians in the third world have distorted the operation of the market in their countries;The liberal theory is popular among governments in the first world such as Usa, and the intergovernmental bodies they dominate.Often simplistic, it nonetheless offers one way forward for the third world!Right now as far as the ivorian economic background is concerned, president "Allasane Ouattara" remains versus right now the american liberal theory in terms of free trade and international competition for the ivorian main commodities(Cacao, Coffee)!Consequently, president "ALLASANE OUATTARA", this so called america's new stepchild can sooner be the first american target in terms of international business!Never forget the fact the american puritanism and quaker theories still linger deeply in the american government officials minds: Business is Business, also to some point,cash money is power...

Yves T Bouazo