Africa

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The history of the Democratic Republic of Congo (DRC) has been influenced highly by the abundance of natural resources for which the country has. The DRC has many different natural resources including vast amount of minerals, crude oil, forestry, agriculture and fisheries. Many regard the Democratic Republic of Congo as being the richest unknown nation in the world with a total mineral wealth that is worth a staggering 24 trillion dollars. “more than the GDP of the United States and the United Kingdom combined (newsaboutcongo)”. The country in its mineral reserves, reserves yet to be tapped by anyone, has the “world’s largest reserves of cobalt and also contains a significant quantity of the world’s diamonds, gold and copper (newsaboutcongo)”. Political and economic stability could transform this nation and probably the view of the whole region overnight but as with many other countries the DRC has been continually ranked as one of the poorest nations on earth as ranked by GDP and its citizens are ranked as one of the lowest as based on HDI, not surprisingly the country also ranks very high on the list of the countries viewed as having high levels of possible corruption (edutube). How could this imbalance be possible? The country’s history as stated before has had a role to play in the country’s present fragile and venerable position and another believed reason for it is a phenomenon known as the “resource curse” where countries that are rich in resources are continually the ones that have poor economic growth (Matti). This portion of the paper would discuss the country’s perceived resource curse, its implications, and the resources for which the DRC has including the mining properties, oil refinery, fishing, forestry and energy. ...

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...the long run due to a lack of diversification. This was the case in the DRC, as the price of the commodity rose as with the economic slowdown in the 1970’s this had an immediate ripple effect to the fragile copper market in the country. For example, “In the beginning of 1975, the price of copper – still the most important export item of the Congo – dropped from US$ 1.40 to US$ 0.53, which halved the exchange value of exports” (Exenberger). Copper has been one of the main mined materials in earlier times but as there have been a need for materials that could be transported more easily other mined materials became more important. The reason for these easier mined materials was simply the sponsoring of conflicts. As the history of the country has explained there were two major Congolese conflicts and they were in relatively recent times. The reason behind much of these
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