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Explain why the collapse of commodity prices on the world market and spike in crude oil prices in the 1970s undermined growth and economic transformation

Explain why the collapse of commodity prices on the world market and spike in crude oil prices in the 1970s undermined growth and economic transformation in Africa.

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Similar to other regions with abundant natural resources the BP Statistical Review of World Energy report for 2018 indicates that Africa has 75 of world oil reserves Revenue generated from oil resourc... blur-text-image

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