I sat through the G8 finance ministers press conference on BBC News today. It appears that Africa is the new black. Africa is very fashionable among politicians, musicians and even ordinary people. The welcoming news is that Africa is getting attention, the bad news is; at what cost?
The headlines are really exciting, but if there is somethg I have learnt about dealing with western world trends and fads it is that this has the hallmarks of another of those money flows in and money flows out quicker than you can brink. Remember, THE 1997-98 ASIAN FINANCIAL CRISIS. I bet you there is a lot more to this than meets the eye. Nonetheless, if people's lives are saved the getsure is all the more worthwhile.
I hope we are not trading family heirlooms and our freedom in exchange for crumbs falling off the old master's table. This could just be a case of 'phantom' aid money.
There is a strong suspicion that the G8 have woken up to China's growing economic threat. According to seasoned conspiracy theorists;
" the spate of accidents in Chinese-owned businesses we have seen to date are an attempt to rally public sentiments against the Chinese in an attempt to justify government wretching control of mines and other protperties out of chinese hands and into the hands of other people. This is all part of the new scramble for Africa."
China is busy in Africa while G8 are busy elsewhere , The G8 need huge amounts of raw materials to sustain their appetite for global power. Africa happens to be about the only place they can obtain such materials at next to nothing. Also, there is a Pension crisis in the western world. Could this be another form of plundering our country just to shore up the financial markets' diminishing returns?
Consider this, the EU constitution is almost DEAD, ( Straw to sound death knell for EU treaty). The United Europe may not happen, if at all. It is now one for himself. The European countries are beginning to scramble for Africa again, including the pop stars, Live 8.
Zambia doesnt even need debt cancellation.They are only engaging in debt cancellation to prevent accusations that the policies they forced GRZ and many african countries to adopt have miserably failed.
If african countries stopped borrowing money and became self sufficient europeans would have no place to get cheap raw materials...and their economies would go in a tailspin.
These debt maneouvres are just another ploy to continue controlling african economies.
I hope my cyncism will be proved wrong.