AGOA and the new ‘Scramble for Africa’

Friday, June 07, 2024 | 210 Views |

On the grind: Textiles were the leading AGOA exports from Botswana. However, the sector relied on government subsidies and when a fresh bailout was denied, all AGOA factories either relocated or shut down PIC: MORERI SEJAKGOMO

African Heads of State and business leaders recently gathered in Dallas, Texas to strengthen trade with the USA. Beneath the genteel handshakes and etiquette, Africa was there to find out if America was willing to match China and the Emirates pound for pound in trade propositions. Staff Writer, TIMOTHY LEWANIKA was in the crowd

Trade is credited as the economic activity that united and grew the world, when the demand for spices exploded throughout the Roman Era and into the medieval period, defining economies from India to Europe. This demand carved out some of the first truly international trade routes and shaped the structure of the world economy in a way that can still be felt today. Those who controlled spice could divert the flow of wealth around the world.

The tale has not changed much: whoever controls the muscles of world trade has the economic power to control the wealth of nations.

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