Business Commons^™

The Consequences Of Somali Piracy On International Trade, La'nita M. Johnson

Global Tides

In the last decade, piracy in the African waters, especially surrounding Somalia, has vastly increased. Due to a previous civil war, absence central government in the country and lack of natural resources, Somalia is presently one of the most underdeveloped countries in the world—which many say is a large stimulus in the rise and expansion of piracy. Although these attacks frequently go unnoticed, they have a large-scale effect on the global economy and international trade. This paper will first briefly observe the history of piracy, then go on to introduce the recent prevalence of Somali pirates off of the Horn …