Post World War II, the world established a new global order with the establishment of United Nations and its governance systems to foster trade, economic development, peace, justice, human rights, environment and climate protection, with the major powers acting as guarantors and key financiers, among others.
The second US Trump presidency appears set to disrupt several of these systems, as it prioritises US economic and political interests. After two months in office, the Trump agenda is gathering momentum, with its impacts being felt by nearly every country.
The agenda is apparently focused on prioritising delivery of jobs and wealth to US people. In case of global trade, it is value-for-value business with tariffs being the key instruments.
And the vocabulary “ally” and “preferential” are apparently no longer fashionable in trading with the US. Global charity and funding of some UN agencies will feature less in US budgets. USAid and the World Health Organisation were among the first victims.
In respect of democracy and governance standards the Trump administration is likely to show tolerance and support for “strong” autocratic leadership.
African nations will need to re-assess their foreign and economic policies to align with emerging geopolitical realities.
For economic (trade and investments) relationships with the US, a country will need to assess what real economic or political value it can add to America, for indeed there will be few opportunities for giveaways from the US.
For Africa, I see critical minerals development as a major investment opportunity for US investments.
It is not far-fetched to predict US getting involved in sorting-out the civil mess in DRC to gain sustainable access to critical minerals.
I see four predominant geopolitical and economic powers that African countries can opt to deal with — the US, China, Europe and Russia. Without much doubt, Europe remains the trusted trading partner of Africa considering its long colonial association.
China is definitely the most progressive global economic and technological power with huge capacity for investments in developing countries. Russia is more of a military power with limited economic capacity and political attitude to benefit Africa. Middle East—Saudi Arabia, UAE, Qatar—is emerging as an economic giant with massive capital for investments in Africa.
The new Trump administration is a wake-up call for Africa to develop own capacity to fund its socio-economic needs without having to require assistance from outside. This is possible if African nations decisively polish up their resource and political governance systems.
Africa has what it takes to stand on its own and attract genuine investments. In the meantime, Africa needs to choose helpful global partners for trade and investments.
