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Tilak Doshi's avatar

Yes, the West developed in the days before institutions like the World Bank were established; local banking and early companies like the East India company played a role in industrialization. As countries in Asia and Africa decolonized, they had the opportunity to get access to cheap financing by agencies like the World Bank. Those that managed to develop were those countries that used their own resources efficiently, like Japan and South Korea. When China and India opened up their economies (after 1978 and 1991 respectively), they also developed. Africa needs to follow these models of open, trading economies. Seldom has foreign aid been the primary basis of successful development. https://tilakdoshi.substack.com/p/why-singapore-thrives-while-the-uk

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Tilak Doshi's avatar

Alas, getting free money from the climate grifters at the UN seem to be an easier way out for many African leaders rather than the tough job of running a successful economy.

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