Africa had a big push for industry in the 60s and 70s, which collapsed in the 80s, and now they are just as dependent on farming and commodity exports as everhttps://twitter.com/brkinibeachriot/status/1217360920034381824 …
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Asian imports cheaper than domestic production and they, despite preferential tax treatment, still couldn't compete with Asian manufacturers on exports to developed countries. See "How Asia Works" by Joe Studwell.
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I'm not sure we're supposed to acknowledge it, but incompetent and corrupt government is a significant reasonhttps://en.wikipedia.org/wiki/Economic_history_of_Zimbabwe …
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These industrial ventures were primarily results of industrial policies with Gov/donors’ money. Largely failed due to O-ring. Complex industrial and logistical processes where everything needs to work well to get final output.https://equitablegrowth.org/should-read-michael-kremer-1993-the-o-ring-theory-of-economic-development/ …
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Example: Aluminum smelters in Ghana had negative economic value added (aluminum production at times less valuable than fuel costs of power generation to produce it).
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Neoliberalism and neo-colonialism are a big part of the collapse
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Couldn't afford to keep subsidizing it, or to pay for the capital equipment imports
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A lot of the industry was simply not viable. A lot of Africa post-WWII was a poster child for bad import-substitution policies. Notorious white elephants in Nigeria, Tanzania, elsewhere. Often aided and abetted by Western “experts” and institutions: https://www.amazon.com/Toxic-Aid-Economic-Collapse-Recovery/dp/0198704429/ref=nodl_ …
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Here is a nice overview of that era: http://www.scielo.br/pdf/rep/v34n1/v34n1a08.pdf …pic.twitter.com/BeSXWuo2Dw
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That sums it up nicely
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