Question

1.Present a sound analysis explicating the injuries outcomes of TOT deterioration on African economies in 1970s and 1980s. Your written analysis must be to the point and comprehensive (15 points).

2. On political colonialism versus economic colonialism What are the similarities and dissimilarities between the former European colonialism and the current Economic colonialism for African countries? Your written analysis must be to the point and elaborate (10 points).

3.Thoughtfully explain the economic fallout of European colonialism on African economies during the colonial period (5 points). Thoughtfully explain the economic fallout of economic colonialism on African economies during the 1970s and 1980s (10 points).

Answer 1

1) In the Western Africa the factors both internal as well as externally combined towards the expansion and growth of trade.overextended structural problems and inefficient institutions of the public sector export oriented industries being neglected continuous biasness of the incentive system against the agriculture and not a proper mix of the economical policies against the modernization. Internal factors which where hampering the growth and expansion of trade increased.some others included political facility institutions which are inserted along with climate and geographical hostility towards development and and overextended public sector neglecting towards export oriented industries and biasness against the agriculture.
2)both European colonialism and current colonialism resulted in the disarticulation of the economy. African pattern of economic development was distorted by various ways.disarticulation in the production of goods and market traders and transport and provision of the social amenities along with patterns of urbanisation.
3)the policies of colonialism force the decline of the African industry and also lead to creation of reliance on the imported goods from Europe. Nature of industries had been encouraged and also cultivated by the powers of colonialism.Africa would limit in a better position economically and technological. Europeans colonialism in Africa invited virtual changes on every aspect regarding the land and people from trade to the hunting and the personal property.