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Cameroon, officially the Republic of Cameroon, is a country in Central Africa. It shares boundaries with Nigeria to the west and north, Chad to the northeast, the Central African Republic to the east, and Equatorial Guinea, Gabon and the Republic of the Congo to the south. Its coastline lies on the Bight of Biafra, part of the Gulf of Guinea and the Atlantic Ocean. Due to its strategic position at the crossroads between West Africa and Central Africa, it has been categorized as being in both camps. Cameroon's population of nearly 31 million people speak 250 native languages, in addition to the national tongues of English and French, or both. Early inhabitants of the territory included the Sao civilisation around Lake Chad and the Baka hunter-gatherers in the southeastern rainforest. Portuguese explorers reached the coast in the 15th century and named the area Rio dos Camarões, which became Cameroon in English. Fulani soldiers founded the Adamawa Emirate in the north in the 19th century, and various ethnic groups of the west and northwest established powerful chiefdoms and fondoms.
At the crossroads of West Africa and Central Africa, the territory of what is now Cameroon has seen human habitation since some time in the Middle Paleolithic, likely no later than 130,000 years ago. The earliest discovered archaeological evidence of humans dates from around 30,000 years ago at Shum Laka. The Bamenda highlands in western Cameroon near the border with Nigeria are the most likely origin for the Bantu peoples, whose language and culture came to dominate most of central and southern Africa between 1000 BCE and 1000 CE.
In economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any other external authority. Proponents of the free market as a normative ideal contrast it with a regulated market, in which a government intervenes in supply and demand by means of various methods such as taxes or regulations. In an idealized free market economy, prices for goods and services are set solely by the bids and offers of the participants.
The economy of Laos is a lower-middle income developing economy. Being one of the socialist states, the Lao economic model resembles the Chinese socialist market and/or Vietnamese socialist-oriented market economies by combining high degrees of state ownership with openness to foreign direct investment and private ownership in a predominantly market-based framework.
Perestroika was a political reform movement within the Communist Party of the Soviet Union (CPSU) during the late 1980s widely associated with CPSU general secretary Mikhail Gorbachev and his glasnost policy reform. The literal meaning of perestroika is "restructuring", referring to the restructuring of the political and economic systems of the Soviet Union, in an attempt to end the Era of Stagnation.
A market economy is an economic system in which the decisions regarding investment, production and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.
A mixed economy is an economic system that accepts both private businesses and nationalized government services, like public utilities, safety, military, welfare, and education. A mixed economy also promotes some form of regulation to protect the public, the environment, or the interests of the state.
The socialist market economy (SME) is the economic system and model of economic development employed in the People's Republic of China. The system is a market economy with the predominance of public ownership and state-owned enterprises. The term "socialist market economy" was introduced by Jiang Zemin during the 14th National Congress of the Chinese Communist Party (CCP) in 1992 to describe the goal of China's economic reforms.
Dirigisme or dirigism is an economic doctrine in which the state plays a strong directive (policies) role, contrary to a merely regulatory interventionist role, over a market economy. As an economic doctrine, dirigisme is the opposite of laissez-faire, stressing a positive role for state intervention in curbing productive inefficiencies and market failures. Dirigiste policies often include indicative planning, state-directed investment, and the use of market instruments to incentivize market entities to fulfill state economic objectives.
The economic history of China describes the changes and developments in China's economy from the founding of the People's Republic of China (PRC) in 1949 to the present day. The speed of China's transformation in this period from one of the poorest countries to one of the world's largest economies is unmatched in history.
Economic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the market mechanism. As an allocation mechanism for socialism, economic planning replaces factor markets with a procedure for direct allocations of resources within an interconnected group of socially owned organizations which together comprise the productive apparatus of the economy.
Rudolf Duala Manga Bell was a Duala king and resistance leader in the German colony of Kamerun (Cameroon). After being educated in both Kamerun and Europe, he succeeded his father Manga Ndumbe Bell on 2 September 1908.
Tourism in Cameroon is a growing but relatively minor industry. Since the 1970s, the government of Cameroon has cultivated the industry by creating a ministry of tourism and by encouraging investment by airlines, hotels, and travel agencies. The government describes the country as "Africa in miniature", promoting its diversity of climate, culture, and geography. Cameroon's wildlife draws both safari-goers and big-game hunters, as Cameroon is home to many of Africa's iconic animals: cheetahs, chimpanzees, elephants, giraffes, gorillas, hippopotami, and rhinoceroses. Impediments to further growth of the tourism sector include poor transport infrastructure and corrupt officials who may harass visitors for bribes.
The Cameroonian economic crisis was a downturn in the economy of Cameroon from the mid-1980s to the early 2000s. The crisis resulted in rising prices in Cameroon, trade deficits, and loss of government revenue. The government of Cameroon acknowledged the crisis in 1987. Outside observers and critics blamed poor government stewardship of the economy. The government instead placed the blame on the fall of the prices of export commodities, particularly a steep drop in the price of petroleum. President Paul Biya announced that "all our export commodities fell at the same time."
The Constitution of Cameroon is the supreme law of the Republic of Cameroon. Adopted in 1972, it is Cameroon's third constitution. The document consists of a preamble and 13 Parts, each divided into Articles. The Constitution outlines the rights guaranteed to Cameroonian citizens, the symbols and official institutions of the country, the structure and functions of government, the procedure by which the Constitution may be amended, and the process by which the provisions of the Constitution are to be implemented.
Economic liberalism is a political and economic ideology that supports a market economy based on individualism and private property in the means of production. Adam Smith is considered one of the primary initial writers on economic liberalism, and his writing is generally regarded as representing the economic expression of 19th-century liberalism up until the Great Depression and rise of Keynesianism in the 20th century. Historically, economic liberalism arose in response to feudalism and mercantilism.
The Chinese economic reform or Chinese economic miracle, also known domestically as reform and opening-up, refers to a variety of economic reforms termed "socialism with Chinese characteristics" and "socialist market economy" in the People's Republic of China (PRC) that began in the late 20th century, after Mao Zedong's death in 1976. Guided by Deng Xiaoping, who is often credited as the "General Architect", the reforms were launched by reformists within the ruling Chinese Communist Party (CCP) on December 18, 1978, during the "Boluan Fanzheng" period. The reforms briefly went into stagnation after the 1989 Tiananmen Square protests and massacre, but were revived after Deng Xiaoping's southern tour in 1992. The reforms led to significant economic growth for China within the successive decades; this phenomenon has since been seen as an "economic miracle". In 2010, China overtook Japan as the world's second-largest economy by nominal GDP, before overtaking the United States in 2016 as the world's largest economy by GDP (PPP). On the other hand, a parallel set of political reforms were launched by Deng and his allies in the 1980s, but eventually ended in 1989 due to the crackdown on Tiananmen Square protests, halting further political liberalization.
Market socialism is a type of economic system involving social ownership of the means of production within the framework of a market economy. Various models for such a system exist, usually involving cooperative enterprises and sometimes a mix that includes public or private enterprises. In contrast to the majority of historic socialist economies, which have substituted the market mechanism for some form of economic planning, market socialists wish to retain the use of supply and demand signals to guide the allocation of capital goods and the means of production. Under such a system, depending on whether socially owned firms are state-owned or operated as worker cooperatives, profits may variously be used to directly remunerate employees, accrue to society at large as the source of public finance, or be distributed amongst the population in a social dividend.
Socialist economics comprises the economic theories, practices and norms of hypothetical and existing socialist economic systems. A socialist economic system is characterized by social ownership and operation of the means of production that may take the form of autonomous cooperatives or direct public ownership wherein production is carried out directly for use rather than for profit. Socialist systems that utilize markets for allocating capital goods and factors of production among economic units are designated market socialism. When planning is utilized, the economic system is designated as a socialist planned economy. Non-market forms of socialism usually include a system of accounting based on calculation-in-kind to value resources and goods.
The Ambazonia Defence Forces (ADF) are a military organization that fights for the independence of Ambazonia, a self-declared independent state in the Anglophone regions of the former Southern Cameroons, Cameroon. It was formally established by the Ambazonia Governing Council (AGovC) on 9 September 2017, the same day as the organization declared a war of independence.
References
- DeLancey, Mark W., and Mark Dike DeLancey (2000): Historical Dictionary of the Republic of Cameroon (3rd ed.). Lanham, Maryland: The Scarecrow Press.
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