The Problem with Foreign Aid - PolyMatter
How Africa is Becoming China's China - Wendover
In the first video, PolyMatter talks about how foreign aid can help dictators stay in the power while doing little to nothing for their population, in the second video Wendover talks about how China is investing in Africa.
In both videos, the main goal of China and Foreign "aiders" is to have the support of those countries. While in foreign aid they are doing almost nothing, with China's way, it's incredible effective, even with very little investment.
While investment is the best way to go, it's not as easy as it sounds. Everything is harder in the real world, and the biggest problem of them is culture. In my country we tend a lot to populism, even tho its policies leads to huge economic crisis in the mid term.
Exploration is not as simple and straight forward as people believe, it's indeed Europe's fault Africa is the way it is nowadays, but not directly. The reason Africa is so poor right now is because they had a lot of Civil Wars, extremelly corrupt presidents that created an overregulated economy... All caused by the abrupt downfall of the european nations with the World Wars, leaving the guerillas without a match in Africa.
Just like South Korea, Singapore, Brunei, Hong Kong and China, countries can still get rich if they play their cards right. Botswana is a great example of this, they are on the rise, doing well.
People loves to misinterpret early stages of industrialization/capitalism with exploration. Indeed wages are low, but not because greed corporations, but because theres only a few jobs for a lot of people, thats how supply and demand works. And the more people gets a job, the more the economy rises, creating more jobs, rising the demand of employees and finally, raising the wages.
People just need to be patient, China is the perfect example of how industrialization works, back in the days they were as poor as Africa, wages were so low people started to say it was slavery, but they kept following this path, nowadays chinese people gets a very decent salary, lives a very decent life, and they became richer than south american countries like Brazil and Argentina, both middle-of-pack countries (Not poor, but not rich either).
Back to the topic, back in the days my country was very open to foreign investment, and the investment was coming, but the people of my country started to say foreigners were actually stealing from us, and the whole country got mad at them, populism won and foreign investment nowadays is very little. It's not surprise I dont live in a first world country, even tho our favourite slogan was "Country of the Future".
Life is not as easy as it seems, you cant start a race at 300km/h, you need to start at 0 and progress from there, but only a few societies are patient enough for this and they are now called "Developed Countries"
AMERICA, Why are some COUNTRIES RICH and others POOR? - VisualPolitik EN youtube.com/watch?v=j4q2U1jz8aI