Dynamism of US Trade and Investment Policy and the Accrual of Economic Benefits for Sub-Saharan Africa Development

Abstract

US trade and investment policy has consistently sought, although with nuances, to promote American and partners’ economic growth and competitiveness by advancing a transparent, open and non-discriminatory trading system, as well as reducing barriers to investment and global trade. This paradigm applied equally to the US-Sub-Saharan Africa trade and investment relationship. In this context, many have strived to explain with supporting and convincing evidence that US economic interests drive this country trade and investment policy towards Sub-Saharan Africa. However, the current body of literature is silent about the long-run trend of the economic benefits for Sub-Saharan Africa (SSA) development resulting from the dynamism of this US policy. This paper addresses this issue. In this sense, the paper argues that since President Bill Clinton came to power still now, the dynamism of US trade and investment policy towards Sub-Saharan Africa led relentlessly to the accrual of economic benefits deemed capable of paving the way for this region development so much sought after by many. The paper came up with the above claim after analysing a set of interview data on the exercise of US trade and investment policy towards Sub-Saharan Africa (SSA) and by exploring an array of flagship business platforms through which successive US governments engaged for a more re-balancing economic partnership in favour of this Africa’s region.

Keywords: US trade and investment, accrual of economic benefits, Sub-Saharan Africa development.

DOI: 10.7176/JESD/12-18-08

Publication date:September 30^th 2021