Sometimes I am forced to repeat myself. People need to begin to see through the Neo-Liberal Nonsense called Foreign Investment. Countries such as Norway, Sweden, Denmark, France etc. did not develop from foreign investment. In fact the entire Industrial Revolution occurred as a result of countries using their own resources and skills to develop and of course plundering Africas raw materials and minerals through colonialism. In the 21st Century that plunder of Africas resources continues under the banner of foreign investment. We Africans suffer from a serious inferiority complex, we seem to think that nothing can happen without foreign investment. In my research I have found that most so called foreign investors actually borrow their investment funds from banks in Africa. Thus they bring in no new capital and in fact drain capital and resources out of the continent. Take oil for example: South Africa buys oil from distant lands such as Singapore which is not even an oil producing country, yet Angola the biggest oil producer on the continent is right next door. We cannot buy Angolan oil, because Angolan oil does not belong to Angola, but to American corporations. Angola cannot buy South African steel because our steel belongs to foreign corporations. Unless we take control of our own destiny and reject the global economic position we are forced into we will never escape the contradiction that we are the richest country on the planet on paper, yet we have among the poorest people.
Posted on: Thu, 31 Jul 2014 11:37:11 +0000
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