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Publication Details

Reference
Bond, Patrick (2016) As global commodity super-cycle ends,
Africans continue uprising against ‘Africa Rising’. University of KwaZulu-Natal Centre for Civil Society Seminar: African geopolitics and implications for Durban civil society : 1-25.

Summary
After the 2011 peak of the commodity super-cycle, it was simply illogical to proclaim that Africa was ‘rising’ given its economies’ dependence upon primary exports, and with most major mining houses’ value crashing on the world’s stock exchanges, not even corporate exploitation of Africa can disguise the crisis. Yet this case requires continuous revisiting given how damaging the neoliberal export-oriented strategy was to genuine popular development, gender equity and Africa’s natural environment. This paper goes further in two ways. First, a series of related aspects of this exploitation are considered: excessive profit-taking through Illicit Financial Flows and also licit financial flows; the general outflow of profits and dividends associated with Foreign Direct Investment; the resulting rise in Africa’s foreign debt to unprecedented heights; South African subimperial capital accumulation; the subsidisation and financing of new extractive infrastructure and financing; the uncompensated depletion of Africa’s ‘natural capital’; land grabs; militarization; and climate change. But those interested in balanced socio-economic development and preserving ecological integrity can be encouraged about widespread social resistance in Africa, which can potentially achieve greater organisation in the course of addressing Africa Rising, by way of Africans uprising.

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