Despite the rhetoric, the people of Sub-Saharan Africa are become poorer. From Tony Blair's Africa Commission and the Make Poverty History campaign to the Hong Kong WTO meeting, Africa's gains have been mainly limited to public relations. The central problems remain exploitative debt and financial relationships with the North, phantom aid, unfair trade, distorted investment and the continent's brain/skills drain. Moreover, capitalism in most African countries has witnessed the emergence of excessively powerful ruling elites with incomes derived from financial-parasitical accumulation. Without overstressing the 'mistakes' of such elites, this book contextualises Africa's wealth outflow within a stagnant but volatile world economy.

Patrick Bond is Professor of Political Economy at the Wits School of Governance, and Honorary Professor at the University of KwaZulu-Natal. He has also previously taught at Johns Hopkins University, and worked at the NGOs Planact and the National Institute for Economic Policy. His previous books include Looting Africa (Zed 2006) and Elite Transition: From Apartheid to Neoliberalism in South Africa (2014).

List of Figures, List of Tables
Preface and Acknowledgements
1. Poor Africa: Two Views
2. Global Uneven and Combined Development: Neoliberalism, Stagnation, Financial Viability
3. Financial Inflows and Outflows: Phantom Aid, Debt Peonage Capital Flight
4. Unequal Exchange Revisited: Trade, Investment, Wealth Depletion
5. Global Apartheid's African Agents: Homegrown Neoliberalism, Repression, Failed Reform
6. Militarism and Looming Subimperialism in Africa - Washington, London, Pretoria
7. Civil Society Resistance: Two Views
Notes
Index