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46 sats \ 5 replies \ @SimpleStacker 8 Jan \ on: The economic gap between Africa and the rest of the world is growing econ
I don't really have evidence to back this up, but I think a big part of Africa's development challenges is that they rely so much on foreign aid. Foreign aid is bad because it is especially subject to corruption and misallocation.
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30 sats \ 2 replies \ @Bell_curve 8 Jan
they need foreign investment, not foreign aid
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13 sats \ 1 reply \ @south_korea_ln OP 8 Jan
Foreign aid rarely comes no-strings-attached. It is often some kind of investment. I think. I don't know much about this.
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0 sats \ 0 replies \ @Bell_curve 8 Jan
Foreign aid goes directly to government employees and bureaucrats. They custody foreign aid.
Investment hopefully bypasses government custody.
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43 sats \ 1 reply \ @gmd 8 Jan
I’m sure China is giving them a great deal while stealing their natural resources.
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33 sats \ 0 replies \ @NovaRift 8 Jan
Also, trapping them in a debt trap. China has literally given more loans than the IMF in recent years, and all of this is part of the debt trap game, which will make these poor nations surrender.
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