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Colonialism persists in many African countries due to the continuation of imperial monetary policy. This is the little-known account of the CFA Franc and economic imperialism. The CFA Franc was created in 1945, binding fourteen African states and split into two monetary zones. Why did French colonial authorities create it and how does it work? Why was independence not extended to monetary sovereignty for former French colonies? Through an exploration of the genesis of the currency and an examination of how the economic system works, the authors seek to answer these questions and more. As protests against the colonial currency grow, the need for myth-busting on the CFA Franc is vital and this exposé of colonial infrastructure proves that decolonization is unfinished business.

Colonialism persists in many African countries due to the continuation of imperial monetary policy. This is the little-known account of the CFA Franc and economic imperialism. The CFA Franc was created in 1945, binding fourteen African states and split into two monetary zones. Why did French colonial authorities create it and how does it work? Why was independence not extended to monetary sovereignty for former French colonies? Through an exploration of the genesis of the currency and an examination of how the economic system works, the authors seek to answer these questions and more. As protests against the colonial currency grow, the need for myth-busting on the CFA Franc is vital and this exposé of colonial infrastructure proves that decolonization is unfinished business.

Throughout the 1960s and 1970s, Ivory Coast was touted as an African miracle, a poster child for modernization and the ways that Western aid and multinational corporations would develop the continent. At the same time, Marxist scholars—most notably Samir Amin—described the capitalist activity in Ivory Coast as empty, unsustainable, and incapable of bringing real change to the lives of ordinary people. To some extent, Amin’s criticisms were validated when, in the 1980s, the Ivorian economy collapsed.

In African Miracle, African Mirage, Abou B. Bamba incorporates economics, political science, and history to craft a bold, transnational study of the development practices and intersecting colonial cultures that continue to shape Ivory Coast today. He considers French, American, and Ivorian development discourses in examining the roles of hydroelectric projects and the sugar, coffee, and cocoa industries in the country’s boom and bust. In so doing, he brings the agency of Ivorians themselves to the fore in a way not often seen in histories of development. Ultimately, he concludes that the “maldevelopment” evident by the mid-1970s had less to do with the Ivory Coast’s “insufficiently modern” citizens than with the conflicting missions of French and American interests within the context of an ever-globalizing world.

After Japanese bombs hit Pearl Harbor, the American right stood at a crossroads. Generally isolationist, conservatives needed to forge their own foreign policy agenda if they wanted to remain politically viable. When Mao Zedong established the People’s Republic of China in 1949—with the Cold War just underway—they had a new object of foreign policy, and as Joyce Mao reveals in this fascinating new look at twentieth-century Pacific affairs, that change would provide vital ingredients for American conservatism as we know it today.

Mao explores the deep resonance American conservatives felt with the defeat of Chiang Kai-Shek and his exile to Taiwan, which they lamented as the loss of China to communism and the corrosion of traditional values. In response, they fomented aggressive anti-communist positions that urged greater action in the Pacific, a policy known as “Asia First.” While this policy would do nothing to oust the communists from China, it was powerfully effective at home. Asia First provided American conservatives a set of ideals—American sovereignty, selective military intervention, strident anti-communism, and the promotion of a technological defense state—that would bring them into the global era with the positions that are now their hallmark.