Also, it recognises the need for pro-poor sustainable growth ,for food security and job creation along with economic growth and human development in Sierra Leone. The six-year National Indicative Programme for Sierra Leone under the 10th European Development Fund (2008-2013) , provided them with financial assistance (€242 million) . Besides providing them aid, EU is a major trading partner of Sierra Leone. The major items imported are petroleum products, rice and other foodstuffs, machinery and transport equipment. Whereas the top exported items are Diamonds, bauxite and cocoa.
The colonialist focused on transportation sector because of its importance in furthering European mining interests while as well in the aspect of agriculture, the transportation was largely to connect the agriculturally rich areas. They connected areas of high economic potentials. In a global capitalist market, an infrastructure investment brings about economic change which reduces trade costs and integrating markets. The transportation in colonial Africa brings a transportation revolution, because trade costs were extremely high before. Africa’s exports were comprised of raw materials such as oil, copper, cotton, coffee, and cocoa.
Raw materials were easily accessible in Africa because they had natural resources like coal, gas, copper, and chromium which were essential to fuel industrialization (Berlin conference simulation). In particular, raw materials like iron were needed for the iron industry. The iron industry caused a boost in Europe’s economy because tons of irons were being sold. Iron was used to build bridges and waterways which increased businesses and trades as products were more easily transported to other countries rapidly. Additionally, in order to boost Belgium's economy, the Belgium, King Leopold, sold rubber in the African congo and made profit (Hochschild).
Economic were more of a driving force because they were in need for natural resources for them to improve technology and their nation. Europeans wanted African resources like rubber and oil.They also wanted to create new markets for their goods that would lead them to great wealth for their nation. Several European industries benefited from African resources. Cotton, rubber, oil, zinc , coffee, gold, diamonds, peanuts, bananas, cocoa, sisal, ivory and gum were exported(Doc D). Out of all these resources they made lots of products and made money off of it.
Evaluate the argument that the Atlantic slave trade generated the capital that underwrote the industrial revolution The Industrial Revolution began as early as 1760 and continued to circa 1820 and 1840. It was a transition to new manufacturing processes, it was a period which saw great movement from hand production methods to machines, more efficient power sources and the rise of the factory system. This period saw great improvements in English standard of living including exponential growth in average income and population. Britain had been reliant on cottage industries, with little labour surplus as most people worked the land. Prior to the Industrial Revolution England’s population was eleven million people of which 80% lived in rural
Seventy two percent of the cocoa beans used by large chocolate companies come from the Ivory Coast and Ghana. Before purchasing a chocolate from brands like Hershey 's or Nestle that we enjoy and love, think again as it is not as innocent as we may think. Many of these chocolate companiesuse child labor practices to processes their chocolate fromthe cocoa beans produced in the Ivory Coast, but that needs to stop. The Cocoa beans from the Ivory Coast are harvested by adolescents who are treated like slaves and debased daily from their human rights.Child labor and child slavery is a prevalent issue in the Ivory Coast, the top cocoa producing country in the world. This makes it almost inevitable for companies such as Mars, Nestle, and Hershey’s
This was a major deal if you were considered the greatest or even close to the greatest. The driving forces behind European Imperialism in Africa the different levels of success based off economics, product production, and its usefulness. The fact that because of imports and exports nations were able to obtain much more that they couldn’t have gotten before that time. The Tanganyika exported rubber, cotton, sisal, and coffee. Cotton and rubber were two huge things that now other colonies
Government can make an effort towards providing education and training in modern farming of cocoa to improve production. The government could rise prices and set a regulatory and standard prices for the product to help the farmers gain greater incentive to continue
Clearing land for palm oil companies earns them some remuneration, apart from the additional revenue gained from the logged trees. Beisdes creating space for plantations, the cleared land also aids in bringing modern technology including electricity to the rural villages, since the network of the country has widened through the building of roads and buildings. Thus, these villages are able to break out of the poverty cycle with more money and better access and hence regulations that prevent palm oil expansion serves as a hindrance to the breaking of the poverty cycle. However, better access and a source of income is not enough to help the country move towards a developed one. It must be recognised that the focus on the natural resource sector of the country diverts labour away from the manufacturing sector.
Topic: The impact of the Atlantic Trade System on the birth of capitalism. Thesis Statement: The Atlantic Slave Trade played a significant role in the birth and development of capitalism in a positive way in Western World. Slaves sold as a property for profit and these profits contributed to the growth of modern finance and also slave labor in the plantation for Atlantic trade contributed to the development of capitalism in a way that it enabled more production and stimulated the economy of time. 1ST MAIN IDEA: Growth of the slave plantation gave rise to increase in labor and contributed to growing more fertile and abundant product. So, profits from plantations provided economic development and industrialization such as the increasing of the general prosperity.