IS TRADE & INVESTMENT OUR WORST
ENEMY?
This
article was compiled and edited by David Ofosu – Appiah LLB and Ms
Chermiah Hart FdA BA (Hons), March 2014, for the Institute of
Black Academics
concerning Black Under achievement.
PUBLISHED 10 MARCH 2014
05:26
‘Trade & Investment’ is un-mixed blessings on one hand, as it
could be construed as a blessing to imbibe the hub of the world’s
natural resources, but in a different sphere or spectrum, it is a curse.
‘Trade & Investment’ takes the Global view of ‘Wealth creation and
prosperity’, as the building blocks of proposed Nation building -
essential for ‘progress’ and economic development. However, from the
‘African central’ view point, it is unequivocal that ‘Trade &
Investment’ as an institution is actually the paradigm opposite for
African growth, development, spiritual growth, mental agility, economic
savvy, domestic living, family life, civilisation and social -
compounding. The allegorical microbial bacterium that grows off the back
of ‘Trade & Investment’ is the obvious Colonial forces, denial of
the very existence of ‘black consciousnesses as an established way of
life, the Imperial world, human slavery and conscious
nullification.
Therefore, ‘for Trade & Investment’, is of advantage and
disadvantage as one can loose out on the terms of trade, and
consequently experience a windfall or shortfall in the balance of
payment deficit or surplus output capacity across African nations and
continents of a people. Moreover, investment can be a deficit, be
deficient, or be in surplus output. (‘Surplus’ output owing to increase
in market ‘stocks’ and ‘share value’).
Global Trade is
manipulated like the national lottery, casino or any gambling game by
future speculators or economically leading nations that have the
super-natural ability to decrease, increase, minimise or maximise
input or output by trade bands, restrictions, protectionism, trade
liberalisation and tariff caps of exports and services of goods and
commodities to earn foreign exchange for re - investment and re -
capitalisation.
Organisations, like the world trade organisation (WTO) have
instituted policies of global allocation in trade - ups, but to no avail
as nations with ulterior motives, bully smaller nations into submission
with exports of primary commodities, pricing, price mechanism, which is
not based primarily on demand and supply (thus super - naturally
overriding the laws of fair trade and economics), of consumer and
producer curve - economic structure.
As a result, for nations of
black descent or ancestry, trade & investment,
is by far the
worst enemy, as they are classified automatically as ‘Third World’ nations, because they lack perceived
investment creation in human resource, man power development, capital,
plant & machinery and equipment of technological transfer. All of
which was originally developed on the back of Black intellectual
diversification from the origins of Ancient Nubian’s to the Bronze
making of Benin Kingdom.
Export is primarily in raw products,
commodities are not in finished products, but of primary value and
quantity pricing, so experience and unfavourable terms of trade, as well
as balance of payment deficit, coupled with slow economic growth as
economy is not buoyant or vibrant on the home front.
The current
contemporary black national executives of nations, particularly, the
African, Caribbean and pacific regions
are not re - investing, re - capitalising into trade - ups of the
business sectors vis - a vis mining, agriculture, health care and
education. As such, independent tycoons, moguls and entrepreneurs have
no access to start up credit from banks and lending companies, thus the
macro and micro economic sector is limited in output and growth to
create employment opportunities, social and trade infrastructure.
Universal credit accessibility for the benefit of all is not achievable
as resources are not evenly distributed in the public and private
sectors as the engine of growth, and actually causes de - accelerated
development of the economy and regressive bio - degradation.
It
is also in the interest of Banks to charge exorbitant start up rates,
commissions, fees and high interest on loans to cover their ‘flamboyant
risk taking’ ventures - commonly known as ‘Venture Capitalism’.
Furthermore, as far as sound reflective trade & investment policies
are not well placed because of organisations such as WTO, UNO, NAFTA, EU
and Shanghai Corporation of China, activation of business as in trade
& investment is not flourishing and making black nations prosperous
in Africa, the Caribbean’s and Pacific regions.
Owing to these
reasons, economic growth since independence from Colonial Masters has
proved futile.