"I Don't Want Money. I Want Trade Agreements"

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So says the president of Senegal, Abdoulaye Wade:

I don't want money, and I don't want hand-outs. I want trade agreements with European firms who will come to Senegal and work with African firms. Anything else is a waste of time.

More power to him. More here.

Reason reviewed Robert Guest's excellent book on African economic development (and tragic lack of same), The Shackled Continent, here.

Hat Tip: Marian Tupy.

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  1. Anything else is a waste of time.

    You mean “Live Aid” didn’t work? How will our rock stars be conspicuously compassionate now?

  2. Damn…now Geldoff’s career really IS in the toilet.

  3. (lightly hitting piano keys)

    You never give me your money,
    You only give me you trade agreements…

  4. Why can’t Bono’s message be like this? It’s blunt, but lacking self-righteousness.

  5. It’s refreshing that the voices from the developing world are the ones simply saying “we want to equality and trading partners, not subsidies”. It’s sad that the voices from the developed world are the ones saying “we want subsidies, not trading partners”.

  6. How dare President Abdoulaye Wade undermine the self-righteous poseurs of the glitterati?

  7. Why can’t Bono’s message be like this? It’s blunt, but lacking self-righteousness.

    Because it doesn’t look good while wearing blue shades. Or is it red shades?

    Paul (the one you know and love)

  8. It’s sad that the voices from the developed world are the ones saying “we want subsidies, not trading partners”.

    Indeed.

    I wonder if someone can point to the pathology that somehow makes “We should give them money so they will buy our products” an easier sell to the populace than “We should give them money in exchange for their products.”

    The mercantilist gene is strong…

  9. For the record Bono and Geldof are 100% behind trade and ending ag subsidies.

    And I really don’t see why countries should be expected to pay the debt incurred during times when they were under the one-man rule of a tyrant.

  10. We “give” them money so they can buy American products, and voila! Caterpillar, or Boeing, or John Deere (you get the picture) gets a behind-the-back subsidy from the American government. And of course, the beneficiaries of these programs may then be expected to show their gratitude to the elected representatives who made the whole thing possible… (you get the picture)

  11. Politically connected companies do make out in the process and may even control it as you suggest.

    But it still gets sold to the people as, “Giving other countries money to buy US products is good for American workers.” While the contrary position of simply giving other countries money for their goods is painted as exporting American jobs.

  12. And I really don’t see why countries should be expected to pay the debt incurred during times when they were under the one-man rule of a tyrant.

    I’m not sure I can buy into your line of reasoning. Who should be responsible, then? If I were married to a scary shopaholic highnumber-abusing b—h who made all sorts of purchases on our joint accounts, and then we divorced, I would still be responsible for the debt.

  13. I’m just not sure that African countries would benefit if the precedent were set that any time a lunatic took over the country they got to declare bankruptcy, since it tends to happen a lot.

  14. While the president of Senegal is correct to try to get European (and others) countries to stop shooting themselves (and others) in the foot and to open up to trade, Senegal also has a lot of work to do to reform its economy and make it more free.

    To be fair though they have made some real progress. Going in the right direction helps a lot.

  15. I really don’t sympathize with someone who gave a loan to Idi Amin or Mobutu.

  16. Hopefully if the message is sent out that if you loan to a dictator, you won’t be getting your money back, then people will stop giving loans to dictators.

    Debt incurred during periods of democratic rule should not be forgiven, however, unless perhaps the US or Europe agrees to cancel the debt in exchange for opening up and deregulating their economies.

  17. Nick-

    “And, I also want– ‘world peace’! (and a pony)…”

  18. Hopefully if the message is sent out that if you loan to a dictator, you won’t be getting your money back, then people will stop giving loans to dictators.

    I’d replace “dictator” with “government” — democratic or not.

  19. highnumber,

    In your example, you married the b—h. That’s not quite the same arrangement the people of Uganda had with Idi Amin.

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