The role of subordinate financialisation in Egypt's employment crisis

The role of subordinate financialisation in Egypt's employment crisis

Author: 
Diab, Osama
Place: 
Oxon
Publisher: 
Taylor & Francis Group
Date published: 
2022
Record type: 
Journal Title: 
Review of African Political Economy
Source: 
Review of African Political Economy, Volume 49, Number 174, 2022, pp. 634-642
ISSN: 
0305-6244 (print); 1470-1014 (web)
Abstract: 

Since the beginning of the 21st century, Europe has seen a substantial increase in undocumented economic migration from West Africa. Dominant public discourse on this migration wave fails to identify its underlying drivers. This article analyses contemporary migration within the structure of modern imperialism, demonstrating how European extraction of wealth and resources from West Africa fosters migration. Imperial expropriation is made concrete through a case study of Senegalese fishers now living in Badalona, Spain. Drawing on their life histories and situating their trajectories within the broader context of Senegalese economic history, this article argues that they were pushed to migrate largely due to industrial fishing fleets draining West African marine life. In Spain, a regime of illegality has coerced these Senegalese fishers into highly exploitative sectors, to the tremendous benefit of Spanish capital. Their ceaseless struggle to work under such violent conditions can only be explained by the need to sustain their impoverished families in Senegal.

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CITATION: Diab, Osama. The role of subordinate financialisation in Egypt's employment crisis . Oxon : Taylor & Francis Group , 2022. Review of African Political Economy, Volume 49, Number 174, 2022, pp. 634-642 - Available at: https://library.au.int/role-subordinate-financialisation-egypts-employment-crisis