Paper short abstract:

The idea of a French pré carré in Africa has been shattered by neoliberal rivalries between the United States and China. This paper examines the implications of Sino-American rivalries on French monetary controls in West Africa and the socio-cultural import of this reconfiguration for Africa and France.

Paper long abstract:

Between 1945 and 1990, France effectively constructed the idea of pré carré, a neocolonial community of former colonies in Africa. The guiding principle of French involvement in Africa was the preservation of economic and strategic interests.

However, the end of the Cold War, and the emergence of the neoliberal order was to reconfigure France-Africa relations. The United States, the champion of the new order, was no longer satisfied with the neo-colonial permutations of spheres of interests and began to pressure the beneficiaries of the old order to adjust to the new realities or be elbowed out. The first sign of a new beginning was the Franco-Africa summit in La Baule, in 1990. President Mitterand made it clear to African leaders that a new world had overtaken the old. In 1993, Prime Minister Balladur announced that budgetary aid to franc zone countries would be conditional upon their having previously signed an agreement with the Bretton Woods Institutions. In 1994 France unilaterally devalued the CFA by 50 percent. With this devaluation, French grasp on her pré carré could no longer be guaranteed. This opened up interesting opportunities for American and Chinese businesses in Africa. Relying on the historiography of subaltern history, this study examine collates and analyzes the implications of Sino-American rivalries on French monetary controls in West Africa as well as the socio-cultural import of this reconfiguration for Africa and France – one of which has been a emigrational shift – from France to North America.