“Third World” countries, especially the African countries, must either take the bull by the horns and abandon their participation in the current Global Capitalist System or continue to serve the interest of the capitalist west and reduce their peoples to the wretched of the earth..The escape of a few from poverty into affluence and riches,which is often showcased as the success of the system, is an illusion…The system is designed to keep us the way that serves their interest : sources of cheap raw materials and labour, as well as Markets for their finished goods and services and regular sources of income through interest payments and debt servicing….Dependence on Foreign Aid ensures control and manipulation..
In his works titled ” Deterring Democracy”, Naom Chomsky discussed : National Security Council Document No. 5432, entitled, ” US Policy in Latin America”, dated August 18,1954 : “The major threat to Us interest is posed by “nationalistic regimes” that are responsive to popular pressures for “immediate improvement in the low living standards of the masses” and diversification of the economies.The tendency conflicts not only with the need to “protect our resources,” but also with concern to encourage “a climate conducive to private investment” and “in the case of foreign capital to repatriate a reasonable return”.
If you are saying to yourself, well that’s 1954, then you haven’t listened to James Wolfensohn, former World Bank President, delivering a speech to a group of students at Stanford University, sometime in 2010/2011…Mr Wolfensohn stated that the world he knew and grew up in, was one where the rich,powerful West (about 1/5 of world population) controlled 80% of global wealth while the Third World countries (4/5 of world population) controlled 20% of Global Wealth…He projected that by 2050 the world population is projected to reach 9Billion, with almost 8Billion living in the Third world..He said that this population disparity and the technological advancement of third world countries will alter the structure of the global economy and change the balance of control of global wealth by 35% to the West and 65% to the developing world..
Mr Wolfensohn sees this new reality as “Turning the world on its head”…because according to him, ” all the organs of running the world were designed to accommodate the fact that the rich West controlled 80% of Global wealth…” He sees this new change as a “threat” that must be confronted by the younger generation in the West…He thinks allowing students from third world countries to study in advance institutions in the West is “madness”…Very interesting indeed…