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by M_Bakhtiari
3063 days ago
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When will Africa realise that they have to learn to look out for themselves because no-one else will? They declined Europe's "offer" (though realistically Europe really didn't have anything to offer its colonies after being devastated by WWII), but where they that much better off under Soviet influence and are they that much better off under China? It's time they started working towards real independence instead of always trying to chase the next free lunch. |
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The poverty trap right now is:
1) Loan from the IMF
2) Restructure your debt = privatization = loss of sovereignty and control
3) Repeat
The hope is that through a regional central bank, regional investment bank and a regional monetary fund they can break away from the shackles of predatory psycopaths like the IMF and the World Bank.
I personally think this will not actually succeed and neocolonial powers will do everything in their power so the union does not succeed.
For example, UNASUR, the Latin American equivalent of African Union, is dead on arrival because of corruption. The president pro-tempore, Macri, doesn't seem to be representing regional interests at all.