The Secret Reasons Why The West Is Keeping Africa Poor | Professor Jeffrey Sachs.

The Secret Reasons Why The West Is Keeping Africa Poor | Professor Jeffrey Sachs.
Historical Africa
Dec 29, 2023 #africa #poor #colonialism
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In this episode of Truth Africa Series (brought to you by Historical Africa), we will be reacting to American economist, academic and public policy analyst Professor Jeffery Sachs speech on how the west is keeping Africa poor.

Africa is rich in potential mineral wealth, skilled workers, booming new businesses and biodiversity. Its people should thrive, its
economies prosper. Yet many people living in Africa’s 54 countries remain trapped in poverty, while much of the continent’s wealth is
being extracted by those outside it.

to understand the present, we must acknowledge the historical context. The legacy of colonialism and economic relationships with the
West."

[Resource Extraction]
"One of the primary accusations is that the West engages in resource extraction without providing adequate compensation or
ensuring that the benefits reach the local populations. This includes minerals, oil, and other valuable resources."

[Trade Imbalances]
"Trade imbalances and unequal trade agreements are also frequently cited. Critics argue that these agreements favor Western
nations, resulting in African countries not receiving fair value for their exported goods and resources."

[Tax Avoidance and Offshore Practices]
"Another area of concern is tax avoidance and offshore practices by multinational corporations. Some argue that these practices
allow companies to avoid paying taxes in the countries where they extract resources, further depriving African nations of much-
needed revenue."

[Environmental Impact]
"Resource extraction often comes with environmental consequences. Critics point to instances where companies prioritize profits
over environmental sustainability, leading to long-term damage to ecosystems and local communities."

[Local Economic Empowerment]
"To address claims of resource theft, it's crucial to emphasize initiatives that empower local economies. Ensuring that resource
extraction benefits local communities and that profits are reinvested in sustainable development projects is essential."

[Transparency and Accountability]
"Transparency and accountability in resource agreements are key elements in preventing resource theft. Advocating for fair and
transparent negotiations can help ensure that the benefits of resource extraction are distributed equitably."

Music:
EMOTIONAL BY YUGEN
Source: wwww.choisc.com
Licensed under creative commons.

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