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Mon Jul 1, 2013, 07:07 PM

Contextualizing Obama’s Visit to Africa

By Horace Campbell

Source: Pambazuka

Monday, July 01, 2013

The nervousness and anxiety of the West over the future of the U.S. financial dominance was quite clear from the communique issued after the recent 2013 G8 meeting in Ireland. Most of the points in the communique issued by the White House (the Lough Erne Declaration) dealt with the challenges coming out of Africa and the role of transnational corporations plundering African resources without paying taxes.[8] Prior to the G8 meeting, the 2013 Report of the Africa Progress Panel headed by former Secretary General of the United Nations, Kofi Anan, called on the same G8 leaders to police their corporations. The Panel had called for inter alia:

• The G8 and the G20 to establish common rules requiring full public disclosure of the beneficial ownership of companies, with no exceptions.
• Companies bidding for natural resource concessions to disclose the names of the people who own and control them.[9]

The destructive extraction of resources from Africa is old and has taken new forms, as Patrick Bond reminds us in Looting Africa: The Economics of Exploitation.[10] For the past six decades the World Bank domination of economic arrangements in Africa has seen the period of dramatic capital flight from Africa.[11] The multi-billion dollar enterprise of looting Africa was at the foundation of an international system that increasingly worked on the basis of speculative capital. The World Bank and the IMF understood that the real foundations of actual resources were to be found in Africa. To conceal the looting and plunder, the West disguised the reality that Africa is a net creditor to the advanced capitalist countries (termed “donors” in neo-liberal parlance). For this reason (and to perpetuate the myths of “spurring economic growth and investment”), the United States government has been caught in a losing battle where new rising forces such as Brazil, Russia, India, China, Turkey, South Korea and other states offer alternatives to the structural adjustment and austerity packages. Barack Obama is going to Africa to boost the armaments culture of the United States at a moment when details of the massive corporate-government spy operations has exposed the surveillance of citizens in all parts of the world in the name of fighting extremism. Citizens are finding out that the gathering of intelligence ultimately serves the interests of capital equity groups such as the Carlyle group that is involved in armaments, intelligence and the stock market.[12]

Full Article: http://www.zcommunications.org/contextualizing-obama-s-visit-to-africa-by-horace-campbell

Originally posted in this thread:


Aaaand .... a little more on the mad rush to carve up Africa:


2 replies, 829 views

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polly7 Jul 2013 OP
scarletwoman Jul 2013 #1
polly7 Jul 2013 #2

Response to polly7 (Original post)

Mon Jul 1, 2013, 07:16 PM

1. K&R! Thank you! (nt)

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Response to scarletwoman (Reply #1)

Mon Jul 1, 2013, 09:00 PM

2. Yw, scarletwoman. nt.

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