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Description of  Africa in the Global Economy: Capital Flight, Enablers, and Decolonial Responses (Advances in African Economic, Social and Political Development)

3031509994 pdf This book discusses the role played by powerful global institutions such as the IMF, the World Bank, the World Trade Organisation, multinational corporations, and the international credit rating agencies in keeping Africa marginalised in the world economy. The book focuses on the intrusive roles of these institutions as enablers and beneficiaries of capital outflows and financial subordination in Africa. Diverging from the official narrative that touts China and the other emerging economies as global reformers that are poised to partner Africa in its fight against financial subjugation, the book instead argues that, like the Western powers, the emerging economies are benefiting prodigiously from a rigged global financial system that keeps Africa as a net creditor to the rest of the world. The book draws its theoretical framework from the repressed heterodox theories including dependency, core-periphery, world systems and Marxist theories as well as the decolonial approach. It concludes with a call for a decolonial African agency that should champion an epistemic rebellion against the neo-liberal and neo-classic economic traditions that have been historically deployed to justify Africas subordinated position in the global economic governance. Read more