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Stealing Africa
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[QUOTE]Originally posted by africurious: [QB] [QUOTE]Originally posted by zarahan- aka Enrique Cardova: [qb] The article sez: [b]As one person put it, "Africa receives several billions of dollars in aid every year to alleviate poverty, yet Africa relinquishes ten times the amount in money every year in terms of resources to foreign corporations!"[/b] "Relinquishing" is a relative term. A company that invests say 20 million in a mine deserves to make its money back with some profit, or it should not be in business. This is economics 101. Companies are not charities. They survive by covering their costs and making profits. That's how its employees stay employed. The Chinese are not making massive investments in Africa because they like black people. They expect to cover their costs and profit, and there is nothing wrong with that. By contrast, natl governments do not have to worry about staying in business. They can keep pouring money into losing investments decade after decade without bearing the real world consequences and accountability busniess have to deal with. And the "10 times the amount" is dubious. 10 times what? and what credible source has the data that demonstrates this sinister "10 times" figure? And the comparison misses an important question. If Africa receives several billions in aid every year, why haven't these billions made more measurable impact among the masses in increasing incomes and wealth? Notice how the "bad guy" is "the foreign corporations" but never the grasping bureaucrats that handle those billions in aid. Why are they supposed to be more virtuous that a corporation? Simplistic "corporations bad", "Bureaucrats good" formulas have yielded dubious results for the African masses. Indeed, the primary enemy of the masses in many cases is not evil "foreign corporations" but smiling, corrupt, parasitical "soul brotha bureaucrats" [/qb][/QUOTE]Thank you, Zarahan!!! I now know that at least one other person on this forum has some sense when it comes to economics. I'm tired of all the same laments about evil euros and foreign corporations destroying africa while those parasitical african bureaucrats get almost no blame. And the funny thing is ppl who are supposedly so pro-african are portraying african countries as helpless babies in the face of evil omnipotent euros. What nonsense! [/QB][/QUOTE]
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