Tuesday, December 04, 2018

The USA Doesn't Lead on Sustainable Economic Development for Africa or the U.S.A.

The U.S. federal (public) debt is 20 trillion dollars, so the government at least is unlikely to develop much abroad in the way of business that is a private sector concern at any rate. Wall Street and the 1%’ers invest where they like already. Many Americans invest in China and have helped the Chinese business sector grow (i.e. Apple and Warren Buffet). In turn, China with a communist government has more capacity to get involved with government financing of foreign businesses.

The U.N. produced a millennium development plan for Africa that was a sustainable development plan. It needed some modest public funding from world governments. The U.S.A. wouldn’t contribute anything at all, nor lead, so it didn’t really get going. It was designed by Jeff Sachs- the economist that helped Russia reform its economy after the end of the Cold War and Soviet communism.



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