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"King of the Hill?"

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Blogger The Stateless Ameche said...

Sir - You seem to imply that the US has some kind inalienable right to maintain its hyper-power status. May I beg to disagree (risking extraordinary rendition!).

In Africa the economic tectonic plates are shifting; as Chinese investment in Africa emulates the introduction of western MNCs to China 20odd years ago – that’s the ripple down effect for you. In the 90s the so called “Washington Consensus” prescribed structural adjustments all across Africa, telling us we should cut back on education and health spending. The Bretton Woods institutions enforced the “Consensus” (Conesus between whom I will never know) with evangelist zeal. We were told this is the bitter pill we ought to swallow now if we want to have just lil bit of FDI. Having just come out of proxy wars of the cold war, Africa was in no position to resist. The promised FDI did not materialise but a lot else happened - let me mention one or two. (1) In 1990 one could count the number of sub-sharan countries who had some sort election by one hand; now in 2005 I can count by one hand the number of sub-sharan countries who do not have some sort election on regular basis. (2) Like it or not Africa is now more stable than it has ever been since the Berlin Conference of 1895 (such are the standards). The west chose not to notice that, hence no FDI (forget this aid non-sense). The Chinese have noticed it, acted on it since the China-Africa forum kicked off fittingly in the year 2000, and now China is doing what the west promised us in the 90s.

Therefore, Africa would be grateful if the west doesn’t get on the way now. Personally, I have given up hope on seeing meaningful western FDI in Africa.

Regards,

4:55 PM

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