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by xbmcuser
1089 days ago
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The local dictators hide and bring their money to the west only so it is a lie that the money stays in those countries. Most of it is comes to the west and then these politically exposed people are used by the 3 letter agencies of the west to control the poor countries. For those countries the loans from the West or China don't matter only maybe they can better options if they can play the west and China against each other. |
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Economics does.
Nigeria, Egypt, and South Africa have decent economies, and they've followed the same path as many other developed countries.
Moving away from agriculture and raw resource extraction, building industry, and then identifying, incubating, scaling, and exporting services.
The fact that other countries in the region haven't done the same, specifically the largest Ethiopia and DRC, has more to do with internal civil wars.
Hopefully recent stability in Ethiopia and engaging additional generation capacity at the Grand Ethiopian Renaissance Dam will kickstart the Ethiopian economy.
(And no, civil wars aren't all started by 3 letter agencies)