Before you can have economic cooperation, you must have a strong rule of law. Before you can have a strong rule of law, the Chaos fomented by the West must be driven out. Terrorism must be actively suppressed. I can't wait to see what happens when these African countries repudiate the odious Western debt and take back control of their resources... :)
Professor Hudson specifically states that Trump's tariffs prevent these countries with the opportunity to earn the dollars necessary to pay their debts; thus, 'odious debt'.
This dialog immediately brings to my mind the contrast between Russian and Chinese development in Africa with Western colonialism and neocolonialism. Western countries created infrastructure that enabled exploitation of raw materials, deprecated agriculture to ensure markets for their own products, and trained promising Africans to be compradors and rentiers; Russia and China seem to be doing the opposite. Michael Hudson speaks of this often, most lately in a Youtube interview with Glen Diesen, https://www.youtube.com/watch?v=8avSepk1qxw&t=2483s.
Before you can have economic cooperation, you must have a strong rule of law. Before you can have a strong rule of law, the Chaos fomented by the West must be driven out. Terrorism must be actively suppressed. I can't wait to see what happens when these African countries repudiate the odious Western debt and take back control of their resources... :)
Yes, I really hope the many nations choking on odious debt take advantage of Trump’s huge invitation for them to legally and morally default.
Professor Hudson specifically states that Trump's tariffs prevent these countries with the opportunity to earn the dollars necessary to pay their debts; thus, 'odious debt'.
This dialog immediately brings to my mind the contrast between Russian and Chinese development in Africa with Western colonialism and neocolonialism. Western countries created infrastructure that enabled exploitation of raw materials, deprecated agriculture to ensure markets for their own products, and trained promising Africans to be compradors and rentiers; Russia and China seem to be doing the opposite. Michael Hudson speaks of this often, most lately in a Youtube interview with Glen Diesen, https://www.youtube.com/watch?v=8avSepk1qxw&t=2483s.