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The Looting Machine Warlords Oligarchs Corporations Smugglers and the Theft of Africa's Wealth

The trade in oil gas gems metals and rare earth minerals wreaks havoc in Africa During the years when Brazil India China and the other “emerging markets” have transformed their economies Africa's resource states remained tethered to the bottom of the industrial supply chain While Africa accounts for about 30 per cent of the world's reserves of hydrocarbons and minerals and 14 per cent of the world's population its share of global manufacturing stood in 2011 exactly where it stood in 2000 at 1 percentIn his first book The Looting Machine Tom Burgis exposes the truth about the African development miracle for the resource states it's a mirage The oil copper diamonds gold and coltan deposits attract a global network of traders bankers corporate extractors and investors who combine with venal political cabals. This book was infuriating and fascinating It shows how Africa has been is continually being stripped of its resources by Chinese American and European countries wit

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To loot the states' value And the vagaries of resource dependent economies could pitch Africa's new middle class back into destitution just as uickly as they climbed out of it The ground beneath their feet is as precarious as a Congolese mine shaft; their prosperity could spill away like crude from a busted pipelineThis catastrophic social disintegration is not merely a continuation of Africa's past as a colonial victim The looting now is accelerating as never before As global demand for Africa's resources rises a handful of Africans are becoming legitimately rich but the vast majority like the continent as a whole is being fleeced Outsiders tend to think of Africa as a great drain of philanthropy But look closely at the resource industry and the relationship between Africa and the rest of the world looks r. A lot of this was a rehash of stuff I knew on a theoretical and statistical level rapacious corporations local compradors rent seeking the wealth gap in Luanda

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Ather different In 2010 fuel and mineral exports from Africa were worth 333 billion than seven times the value of the aid that went in the opposite direction But who received the money For every Frenchwoman who dies in childbirth 100 die in Niger alone the former French colony whose uranium fuels France's nuclear reactors In petro states like Angola three uarters of government revenue comes from oil The government is not funded by the people and as result it is not beholden to them A score of African countries whose economies depend on resources are rentier states; their people are largely serfs The resource curse is not merely some unfortunate economic phenomenon the product of an intangible force What is happening in Africa's resource states is systematic looting Like its victims its beneficiaries have nam. The legacy of Cecil Rhodes refuses to wither in the destitute yet mineral rich African continent There is little chance for the ordinary people when their governmen

  • Hardcover
  • 352
  • The Looting Machine Warlords Oligarchs Corporations Smugglers and the Theft of Africa's Wealth
  • Tom Burgis
  • English
  • 14 June 2018
  • 9781610394390

About the Author: Tom Burgis

Tom Burgis a journalist who has worked primarily as a correspondent for the Financial Times



10 thoughts on “The Looting Machine Warlords Oligarchs Corporations Smugglers and the Theft of Africa's Wealth

  1. says:

    This book was infuriating and fascinating It shows how Africa has been is continually being stripped of its resources by Chinese American and European countries with the aid of brutal African leaders I learned a lot

  2. says:

    Rating 4 of five #ReadingIsResistance to the carefully engineered ignorance of the hideous human costs of living the way we do My review is li

  3. says:

    Misconceptions abound in the public perception of corruption in Africa Tom Burgis’ incisive new analysis of corruption on the continent The Looting Machine dispels these dangerous mythsFor starters corruption is mistakenly believed to reig

  4. says:

    I'm not often impressed by books about Africa Many of them border on banality rife with trite oversimplifications about the continent However this one charts a reasonably thorough analysis of a complex web of geopolitical and economic interests and the various powers that control the vast majority of Africa's natural resourcesThe

  5. says:

    This is an overview of the widespread corruption on the African continent that keeps it impoverished This book is rather poorly written concentrating too much upon the specifics of corrupt deals and too little on potential solutions but it is remarkable in its disclosure of shocking improprieties The author seems to see himself as a whistl

  6. says:

    A lot of this was a rehash of stuff I knew on a theoretical and statistical level – rapacious corporations local compradors rent seeking the wealth gap in Luanda coltan deposits – but I was absolutely floored by the actual research that Burgis did His ability to follow the money trail was impressive as all fuck along with his ab

  7. says:

    Develops as its central thesis the economic phenomenon called the Dutch Disease aka the resource curse Why is it that a continent as mineral rich as Africa contains the poorest most violent countries in the world? According to the Dutch Disease the discovery of an abundance of a key resources oil coltan gold natural gas etc tends to retard the industrial diversity of a nation the vast majority of economic en

  8. says:

    The legacy of Cecil Rhodes refuses to wither in the destitute yet mineral rich African continent There is little chance for the ordinary people when their governments and ruling cliues are hell bent on enriching themselves Opinions of people do not matter in resource states where their governments economically rely on external corporations an

  9. says:

    An extremely engaging and disturbing work of investigative journalism The Looting Machine tells the tale of the systematic theft of Africa's natural wealth in the post colonial world Burgis is incredibly well researched and thorough

  10. says:

    The writing was a little dry for my taste but the content was extremely interesting

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