How West Rob Africa
The world’s wealthy countries often criticize African nations for corruption especially that perpetrated by those among the continent’s government and business leaders who abuse their positions by looting tens of billions of dollars in national assets or the profits from state-owned enterprises that could otherwise be use to relieve the plight of some of the world’s poorest peoples.
Yet the West is culpable too in that it often looks the other way when that same dirty money is channeled into bank accounts in Europe and the US.
International money laundering regulations are supposed to stop the proceeds of corruption being moved around the world in this way, but it seems the developed world’s financial system is far more tempted by the prospect of large cash injections than it should be.
As an add-on to this interesting report, there is another video in the playlist named King Cobra and the Dragon. As China increases its economic ties in Africa, has the continent entered a new era of colonialism? China’s increasing engagement with Africa has become a subject of great controversy.
The country’s commercial interests in Africa have been called a new form of colonialism by some in the West, but many Africans say that China is a better partner than Europe or the US. But what is the reality in the African nations with the longest standing links to China?