Why are predominately black countries mostly poor? in your opinion

[Truth200]

also, what i don't see a lot of ppl mentioning is that using the modern european states as some kind of barometer of what all states should aspire to is downright farcical. a lot of these countries are just experiencing a brief period of prosperity. i mean UK, the muhfukking UK is right on the cusp of being destabilized by a referendum being ran by the Scots. there's no country that's ever existed for an extended period of time. a lot of folks are worried about Africa, well there's also no telling what Europe is going to look like 100 years from now. what ppl should be doing is trying to find a solution to their own unique problems rather than follow a template. europe had its napoleon, it world wars, its renaissance, but africa shouldn't necessarily follow this blueprint or at least not the order that's implied by the european model.

Well said.

 

[Dion Isus]

also, what i don't see a lot of ppl mentioning is that using the modern european states as some kind of barometer of what all states should aspire to is downright farcical. a lot of these countries are just experiencing a brief period of prosperity. i mean UK, the muhfukking UK is right on the cusp of being destabilized by a referendum being ran by the Scots. there's no country that's ever existed for an extended period of time. a lot of folks are worried about Africa, well there's also no telling what Europe is going to look like 100 years from now. what ppl should be doing is trying to find a solution to their own unique problems rather than follow a template. europe had its napoleon, it world wars, its renaissance, but africa shouldn't necessarily follow this blueprint or at least not the order that's implied by the european model.

What I'm amazed by is why folks completely leave out Eastern Europe in these conversations. Does it not exist? Why is it so far behind the rest of the sub-continent? What has been the difference in its historical trajectory?

 

[Poitier]

What I'm amazed by is why folks completely leave out Eastern Europe in these conversations. Does it not exist? Why is it so far behind the rest of the sub-continent? What has been the difference in its historical trajectory?

The end of the 1st Cold War of course.

as far as evidence of low levels of capitalism, the first evidence is this thread, multiple posters who are presumably black have denounced or shown disdain for capitalism, if you go to africa, there are very few banks and a lot of business are owned by europeans, asians and arabs, if you go to black neighborhoods in the us you see the same thing

Black people have tried and succeed at capitalism in America multiple times only to have it thwarted. You spew ignorance.

Also, tell me how Kenya, Nigeria, Angola and SA have few banks?

Anyone who actually knows what the are talking about can see through your horse shyt.

 

[Dion Isus]

The end of the 1st Cold War of course.

Eastern Europe was behind before that.

Also, tell me how Kenya, Nigeria, Angola and SA have few banks?

Anyone who actually knows what the are talking about can see through your horse shyt.

He said few banks owned by foreigners, not a few banks overall.

 

[Poitier]

Eastern Europe was behind before that.




He said few banks owned by foreigners, not a few banks overall.

Russia was behind what European country in the 1900s?

There are tons of banks not owned by foreigners, breh.

And banking is misleading since Africa leads the world in mobile money.

Like @OCCAMS_RAZOR said, putting European paradigms on African countries is dumnb.

 

[Dion Isus]

There are tons of banks not owned by foreigners, breh.

I actually misread him. He is still right. There are a few banks in Africa compared to other places, even those owned by Africans: Ecobank, etc.

And banking is misleading since Africa leads the world in mobile money.

Like @OCCAMS_RAZOR said, putting European paradigms on African countries is dumnb.

A very very recent development. But the vast majority of the continent is still unbanked. However, technologies like Bitcoin could help change that.

 

[Dion Isus]

Russia was behind what European country in the 1900s?

That depends on what time period you're talking about. There clearly is a difference between Russia before and after their revolution. And also lets not forget about the rest of the countries in Eastern Europe: Ukraine, Romania, etc.

 

[Poitier]

That depends on what time period you're talking about. There clearly is a difference between Russia before and after their revolution. And also lets not forget about the rest of the countries in Eastern Europe: Ukraine, Romania, etc.

That was all red country

Isn't that exactly what both he and I have been saying?

No, he is claiming that there are very few African banks

A very very recent development. But the vast majority of the continent is still unbanked. However, technologies like Bitcoin could help change that.

10 years is recent?

Nigeria's problem isn't capitalism and literacy, its diversification of the economy, lack of manufacturing and far too many ethnic groups who don't believe in one Nigeria. Lets not forget the EU purposely fukking up intra-African trade

 

[Poitier]

I actually misread him. He is still right. There are a few banks in Africa compared to other places, even those owned by Africans: Ecobank, etc.

Thats a factor of time, not a disowning of capitalism.

 

[Dion Isus]

That was all red country

You're referring to the USSR right? They may have had a strong military, but what about the standards of living of the people?

No, he is claiming that there are very few African banks

Relative to the populations in those countries he named, there are actually only a few banks...period. Take Nigeria for example:

http://en.wikipedia.org/wiki/List_of_banks_in_Nigeria

10 years is recent?

Yes. 10 years is recent.

Nigeria's problem isn't capitalism and literacy, its diversification of the economy, lack of manufacturing and far too many ethnic groups who don't believe in one Nigeria. Lets not forget the EU purposely fukking up intra-African trade

Nigeria's economy under military rule was highly centralized and centrally planned (pretty much socialist but without the social programs). With its return to democracy in 1999, combined with the settling of its Paris Club debt under the OBJ regime, its economy has definitely taken off. If you ask Nigerian business owners the best approach for their country, they will tell you less government, and more private investment.

In regards to intra-African trade, I'd say that the francophone countries are by far the weakest link there.

 

[Dion Isus]

Thats a factor of time, not a disowning of capitalism.

Its a matter of both. Alot of folks on the continent are distrustful of banks due to their assets being seized under military regimes (as what happened in Nigeria during the civil war).

 

[Poitier]

You're referring to the USSR right? They may have had a strong military, but what about the standards of living of the people?

Thats a Western construct. The Russian people have never been about excess.

Relative to the populations in those countries he named, there are actually only a few banks...period. Take Nigeria for example:

http://en.wikipedia.org/wiki/List_of_banks_in_Nigeria

Put that on a time scale and this is false. How many banks did America have 50 years after independence?

Yes. 10 years is recent.

Not in the technological age.

Nigeria's economy under military rule was highly centralized and centrally planned (pretty much socialist but without the social programs). With its return to democracy in 1999, combined with the settling of its Paris Club debt under the OBJ regime, its economy has definitely taken off. If you ask Nigerian business owners the best approach for their country, they will tell you less government, and more private investment.

If I ask the people, they will say good governorship, a united Nigerian identity and diversification beyond oil production...."less government, and more private investment" by itself will lead to massive inequality.

 

[Poitier]

Its a matter of both. Alot of folks on the continent are distrustful of banks due to their assets being seized under military regimes (as what happened in Nigeria during the civil war).

and fees.

Which is where mobile money comes in. Stop using old paradigms. Apple Pay is 10 years behind what is happening in Africa and Asia.

 

[Dion Isus]

Thats a Western construct. The Russian people have never been about excess.

According to who?

http://en.wikipedia.org/wiki/List_of_banks_in_Nigeria

Put that on a time scale and this is false. How many banks did America have 50 years after independence?

How is it false? Do you have any relatives in Nigeria? Ask them how much of their money is in the banks. And the banking system as we know it didn't exist in the late 1700s so that's not a fair comparison.

Not in the technological age.

10 years is a long time in regards to technology, but not in regards to economics.

If I ask the people, they will say good governorship, a united Nigerian identity and diversification beyond oil production...."less government, and more private investment" by itself will lead to massive inequality.

You notice that I did specifically say Nigerian business owners right?

 

[Dion Isus]

and fees.

Which is where mobile money comes in. Stop using old paradigms. Apple Pay is 10 years behind what is happening in Africa and Asia.

How am I using old paradigms if I'm bring up Bitcoin? And mobile money is actually just really taken off in East Africa, Kenya in particular.