The Power we don't take about...YOUR SAVINGS
Call me "futurist" but:
With the Electronic Herd, thousands investors use their savings (billions US$ every day), economies and countries have to compete each other to attract investments if they want to keep the pace of the economy or get left dead along the road economically (like North Korea, Iran,...).
These thousands and other hedge funds are attracted by high returns on investment and FAST. African countries whatever their political system will have to plug to Globalization if they want to survive. You can have the best gold mine in the world, if you are constantly in a state of civil war or corruption, investors won't come and your big mine won't produce a lot to feed your civil war or corruption. You are basically feeding on your own blood.
If you provide a safe, corrupt free environment, most African countries have untapped ressources that can attract these investors.
These thousand investors, much more than China or EU or US are for me, the biggest geoplotical game changers in Africa. Kabila, Kagame,...understand it.
These thousands investors require stability, transparency, good governance and if you don't provide, one click of the mouse on any trade website and their money is GONE. It's like an international/every minute referendum on how good/bad your country and its economy is.
The influence of China, US or EU over Africa looks pale in camparaison to the much defuse but HUGE influence of the electronic herd. 8 Billions US$ in 2008 came from the electronic herd as investment (not loans), while CHINA came with about 14 Billions in loans mostly.
As an African President, i would rather go to Wall Street and convince them to invest than beg Beijing for a loan i have to repay later even if it means cleaning corruption, improve education,...
FYI:
http://seekingalpha.com/article/3424...at-opportunity
http://www.africaneconomicoutlook.or...ct-investment/
A recipe for disaster or a usual practice?
Quote:
From Dayuhan
We'll see what happens... but if a European country did what the Chinese are doing I suspect most of us would see it as a recipe for disaster. Why should it be any different for the Chinese?
Quote:
Macmillan admits to bribery over World Bank Sudan aid deal
Macmillan, the British publishing giant, has admitted it made "corrupt payments" in an attempt to win a World Bank aid contract in Africa.
A Macmillan Education representative made the undisclosed bribery payments to a local official in an unsuccessful attempt to secure the multi-million pound contract for an education project in southern Sudan.
The World Bank said it had banned Macmillan from bidding for any of its contracts for six years.
Macmillan, which focuses on educational and scientific books, has been added to the World Bank's "debarred" list, which names and shames organisations found to have acted corruptly.
Leonard McCarthy, vice president of integrity at the World Bank, said: "[The ban] demonstrates the World Bank's unwavering commitment to ensuring all those who participate in World Bank-financed projects, including those who do not actually get contracts, are held to the highest levels of integrity, while also encouraging companies to come forward and join our fight against corruption."
A spokesman for the World Bank said: "Macmillan admitted engaging in bribes in an attempt to get a contract to print textbooks for the education rehabilitation project in south Sudan."
The payments were offered between 2008 and 2009.
International donors have committed to pumping more than $1.5bn (£1bn) into World Bank projects in Sudan to help the war-ravaged country recover from decades of bitter conflict.
A spokesman for Macmillan, which has drafted in an emergency press team to deal with the scandal, said: "We will not tolerate improper behaviour as a company, and the fact that we have worked closely with the World Bank to reach this agreement is evidence of that.
"There is no suggestion that these concerns have affected any of Macmillan's other principal businesses, and it is the case that they are confined to a limited part of our education business."
Macmillan, which is owned by Germany's Verlagsgruppe Georg von Holtzbrinck, declares in its "anti-bribery policy" that it has a "zero tolerance approach to acts of bribery and corruption".
In its mission statement Macmillan states that "businesses should work against all forms of corruption, including bribery and extortion".
The ban was originally set in place for eight years, but was reduced to six after Macmillan admitted to the bribery. It may be reduced by a further three years if the company continues to cooperate with the World Bank's "compliance monitoring program".
http://www.telegraph.co.uk/finance/n...-aid-deal.html
We always blame the Chinese to encourage corruption… But we better have a look at our selves!
What Chinese may be accused of is to have sky rocketted corruption (They can pay ridiculous amouts of money with more 0 than anyone else that’s for sure.) but not to be THE corrupter criminalizing Africa.
Will Israel Become Involved in East Africa?
According to a story in the Washington Post Israel may become more involved in East Africa's fight against terrorists. They have a history of suffering at the hands of terrorists in the region.
http://terrorisminafrica.com/2011/11...nst-terrorism/