Nigeria to Expand Manufacturing; UN Praises China’s Belt and Road

APRIL 11, 2019

Nigeria plans special economic zones to double manufacturing by 2025

(courtesy thisdaylive.com)

Nigeria is Africa’s biggest economy but it lacks a strong manufacturing base, which contributes less than 10 percent to its total gross domestic product (GDP). The country has maintained a strong currency to ensure it can keep imports pouring in, with a growing proportion coming from China.

 

“Project MINE’s (Made in Nigeria for Export) strategic objectives are to increase (the) manufacturing sector’s contribution to GDP to 20 percent … and generate over $30 billion annually by 2025,” the ministry of industry, trade and investment said in a statement.

The government has set up Nigeria SEZ Investment Company, which will finance industrial parks in special economic zones in the commercial capital of Lagos, southeastern state of Abia and northern state of Katsina.

The government is currently raising capital of $250 million for Nigeria SEZ Investment Company. It plans to double its equity to $500 million over four years, the ministry said.

The West African country’s manufacturing and agricultural sectors have been neglected since the 1970s oil boom, when Nigeria began making easy money from crude oil sales.

Nigeria, where the vast majority of the population lives on less than $2 a day, recently emerged from a recession but growth is fragile and the government is trying to diversify its revenue away from its reliance on oil.

President Muhammadu Buhari, who is due to start a second four-year term next month, has pledged to revive the economy and is focused on building roads and expanding the railway network to lower production costs…

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UN Africa Official Vera Songwe Calls BRI ‘Probably One of the Biggest Growth and Development Initiatives in the World’

In an interview with the Xinhua that appeared on April 10, Vera Songwe, executive secretary of the UN Economic Commission for Africa (UNECA), hailed the role that the China-proposed Belt and Road Initiative (BRI) would play in addressing Africa’s problems in infrastructure and job creation. She told Xinhua that the BRI will positively affect hundreds of millions of people in different countries, while it helps Africa develop infrastructure connectivity of varied types and creates job opportunities that are pressing issues on the continent.

“This (BRI) is probably one of the biggest growth and development initiatives that we have in the world,” the UN official said, adding that the BRI is essential to the continent. She believes that the initiative, in which many African countries “infrastructure today is one of the necessary requirements for Africa’s growth,” Xinhua reported.

African Union Affirms High Speed Rail For Africa Moving Forward

FILE - A train conductor walks inside a carriage as passengers ride inside a Nairobi Commuter Rail Service train from the Mutindwa station in Nairobi, Kenya, Nov. 12, 2018.
FILE – A train conductor walks inside a carriage as passengers ride inside a Nairobi Commuter Rail Service train from the Mutindwa station in Nairobi, Kenya, Nov. 12, 2018 

“Plans are on track for a high-speed rail network connecting the continent’s borders by 2063, the African Union’s Development Agency says. The ambitious multi-billion-dollar project aims to ease the movement of goods and people across African borders, but the AU warns that corruption could derail that goal.Road, rail, and air traffic connections are so poor between some African countries that it is better to transit through Europe than to travel directly between neighbors.

Intra-African trade is less than 15% of total trade, says Adama Deen, the head of infrastructure at the AU’s Development Agency.

“You cannot have integration without connectivity, whether it is road or rail connectivity, especially when we are talking about the Africa Continental Free Trade Area, where you need a single market and connectivity to move goods, persons within the market,” Deen said

READ: African Union High Speed Rail Network On Track

 

Is There A Plan For A Venezuela Type Regime Change for Nigeria?

April 11, 2019

I cannot verify all the information in the article below, nor do I think President Buhari will be removed from office and replaced by Atiku Abubakar. However, the machinations presented in this article are plausible. Although, President Trump has spoken out against regime change, his administration, led by National Security Adviser, John Bolton, and Secretary of State, Mike Pompeo, is in fact attempting to do just that in Venezuela. There, they are endeavoring to replace the current President of Venezuela by installing a member of the National Assembly as head of state, who was never elected as President. Some people in and around the Trump administration are trying to use this precedent in Venezuela to establish a new precedent for regime change.  If the cited article below is true, it appears that there are unscrupulous people,  who are being handsomely paid by the defeated, but wealthy Atiku, to make him President of Nigeria.

Atiku Abubakar-left. President Buhari-right. (courtesy nigerianpilot.com)

The idea of removing President Buhari from office-Venezuelan style, would not only illegally overturn the will of the Nigerian people, but it would be a catastrophe for all of Africa. Africa, especially North Africa, is still suffering horribly from the 2011 regime change and assassination of Libyan President, Muammar Gaddafi. Contrary to the misguided apologists of the Obama administration, there is no escaping the truth; Samantha Powers, Susan Rice, Hillary Clinton, and President Obama are responsible for the death and destruction of North Africa by their reckless action in overthrowing President Gaddafi and then killing him. Following the regime change collapse of Libya, thousands of Tuaregs, along with various extremists, drove out of Libya in their pick-up trucks filled with modern weapons and munitions. As a result, following the collapse of Libya, Mali’s sovereignty was undermined, the nation destabilized, and remains so today!

Nigeria is already familiar with the effects of western inspired regime change. Boko Haram’s growth and sophistication in lethality was also caused by the influx of new terrorist actors streaming across the desert after President Gaddafi was eliminated.  Were those lunatics in the cited article ever to succeed in their fantasy to remove President Buhari, civil war accompanied by an exodus of millions of Nigerians would overwhelm West Africa especially, drawing the continent into new and deadly regional conflicts and massive internal displacement of people.

For the sake of Africa and the world, let’s put end to regime change, now!

Excerpts:

“Enlisting the assistance of two high-powered Washington, D.C. lawyers, a Nigerian presidential candidate is looking for help in his legal challenge after his election loss. Atiku Abubakar, former vice president of Nigeria, lost in the country’s February presidential election to incumbent President Muhammadu Buhari. However, Abubakar swiftly filed a legal suit challenging the election results due to allegations of voting irregularities and violence.

“Abubakar has ties to those in Trump’s orbit, having hired political consultants like Riva Levinson, who worked with Paul Manafort, and Brian Ballard, a major Trump fundraiser. Like many other foreign leaders looking to bolster their standing with Trump, Abubakar stayed at the Trump International Hotel in Washington D.C”

“Abubakar himself has a rocky legal history. A Senate subcommittee report on foreign corruption cited Abubakar as a case study regarding his transfer of millions of dollars into the U.S. through shell companies. He was never prosecuted. In 2009, the FBI alleged that Abubakar demanded bribes from former Rep. William Jefferson (D-La.), who was convicted of corruption charges. At one point, Jefferson stored $90,000 in cash for Abubakar in his freezer.”

READ: Failed Nigerian Presidential Candidate Lobbying US to Recognize Him as Authentic President

China’s Belt & Road Redefining Globalization & International Relations for Belt-Road Forum

April 10, 2019

Preparations for the Second Belt and Road Forum

On March 29, Yang Jiechi, member of the Political Bureau of the Central Committee of the Communist Party of China and director of the Office of the Central Commission for Foreign Affairs, spoke at length with the media about preparations for the late April Second Belt and Road Forum for International Cooperation in Beijing.

President Xi Jinping addressing 1st Belt Road Forum on May 15, 2017. (image credit: Reuters/Nicloas Asfouri)

“Since its inception, the BRI has received strong endorsement and warm support of the international community. So far, a total of 124 countries and 29 international organizations have signed BRI cooperation documents with China. Most recently, during President Xi’s visit to Italy, the two countries signed an MOU on promoting BRI cooperation, giving a new impetus to this process. Meanwhile, the BRI vision has been included in documents of major international institutions including the United Nations, the G20, the Asia-Pacific Economic Cooperation and the Shanghai Cooperation Organization. Indeed, the BRI has proved a popular and worthy cause that goes along with the trend of our times and responds to the shared aspiration of countries for development through mutually beneficial cooperation. Looking back at this pursuit over the last few years, I would draw your attention to the positive role the BRI has played in the following three ways…

“The BRI has created new impetus and opportunities for global growth.

“Since the outbreak of the international financial crisis in 2008, to create both new growth drivers and a new cycle of global growth has become a common task for the international community. The BRI aims to address the fundamental issue of promoting development by enhancing all-round connectivity. It has helped countries involved to remove development bottlenecks and implement the UN 2030 Agenda for Sustainable Development. This initiative has thus become an important way for boosting global growth.

“The latest studies by the World Bank and other international institutions suggest that the BRI cooperation will cut the costs of global trade by 1.1 to 2.2% and those of trade along the China-Central Asia-West Asia Economic Corridor by 10.2%. What is more, it will contribute at least 0.1% of global growth in 2019….

“As President Xi Jinping pointed out, the BRI aims to replace estrangement with exchanges between different civilizations, replace clashes with mutual learning and replace a sense of superiority with coexistence; and it aims to boost mutual understanding, mutual respect and mutual trust among different countries. So the BRI is a sure path toward peace and cooperation for win-win outcomes.

“The vision of building a new type of international relations and a community with a shared future for mankind is an important component of Xi Jinping Thought on Diplomacy. The BRI champions mutual respect, consultation on an equal footing, openness and inclusiveness, and mutual benefit. It is an approach to global governance featuring consultation and cooperation for shared benefits. And it aims to promote connectivity the world over. These are all important dimensions of the vision of a community with a shared future for mankind and a new type of international relations….

“The BRF is the highest-level platform for Belt and Road cooperation where all parties concerned meet to build consensus and adopt plans for future cooperation. We have set up a BRF Advisory Council consisting of leading international figures to provide advice on the growth of the Forum. In addition, China and other participating countries have in recent years set up platforms for multilateral cooperation on port, shipping, finance, taxation, energy, culture, think tank, the media and other areas and launched initiatives on a green Silk Road and a clean Silk Road….

“The opportunities come with the BRI’s growing international influence, moral appeal and cooperation potential. Against the backdrop of mounting protectionism and unilateralism in the world, the BRI principle of consultation and cooperation for shared benefits has gained wide recognition. Support for the BRI is the mainstream view of the international community, and the opportunities created by BRI cooperation are widely appreciated in the global community….

“The opportunities come with the accelerated industrialization of a vast number of developing countries, a process which generates new demands in infrastructure connectivity and industrial investment, and promises huge potential for international cooperation…

“We have noticed that some people have expressed different views about the BRI, claiming that the Initiative is China’s geopolitical tool and could cause some countries to fall into a debt trap. Such views are less than objective or balanced. They are simply a misunderstanding, misrepresentation and even biased view of the BRI….

“China and other 27 countries have jointly adopted the Guiding Principles on Financing the Development of the Belt and Road, which highlights the need to ensure debt sustainability in project financing. In case our cooperation partners face difficulties in servicing debts, China will properly address this issue through friendly consultation, and will never press them for debt payment. As a matter of fact, no country has got trapped in a debt crisis since its participation in the BRI. Quite on the contrary, it is through participating in BRI cooperation that many countries have got out of the trap of no development….

“The theme of this year’s BRF is: ‘Belt and Road Cooperation: Shaping a Brighter Shared Future,’ and the Forum events include the opening ceremony, a leaders’ round-table, a high-level meeting, thematic forums, a CEO conference and other side events. “Representatives from over 100 countries, including about 40 leaders of foreign governments, have confirmed their attendance. As the host country, we will, together with other Forum parties, take stock of what has been achieved and draw a blueprint for future cooperation to further enrich BRI cooperation….

“BRI cooperation is not a talk shop, but an action-oriented initiative that delivers real outcomes. The second BRF is expected to produce a full range of outcomes, including both governmental cooperation agreements and initiatives, and concrete cooperation projects involving participation of the business sector. All these will be included in a list of deliverables and be released in due course. We are confident that the second BRF will produce even greater numbers of cooperation outcomes that are of still higher quality.”

Finally, US Returning to the Moon and on to Mars: Joins China

Finally, the USA is planning on returning to space in a big way. If President Trump implements his just announced space program he will be reigniting America’s space legacy, initially led by President John Kennedy. Returning to the Moon, which President Obama foolishly dismissed by saying, “been there-done that,” is vital to our culture and economy. Exploration of our solar system and galaxy will stimulate the imagination of mankind, and return hefty economic benefits through discovering new scientific principles. Not having returned to the Moon for almost half a century was a gigantic error in American policy. Establishing a base on the Moon is an essential stepping stone to landing on Mars, the Earth’s closet neighboring planet. Over recent years, China has taken the lead in space exploration, and now, if the US is wise, we can collaborate with China in discovering new wonders about our living Universe.

August 1,. 1971) — Astronaut James B. Irwin, lunar module pilot, gives a military salute while standing beside the deployed United States flag during the Apollo 15 lunar surface extravehicular activity (EVA) at the Hadley-Apennine landing site. (courtesy of nbcnews.com)

President Donald Trump:  “This time, we will not only plant our flag and leave our footprint, we will establish a foundation for an eventual mission to Mars, and perhaps someday, to many worlds beyond.”

Highlights of President Trump’s Moon initiative:

*”The United States will seek to land on the Moon’s South Pole by 2024, establish a sustainable human presence on the Moon by 2028 (less than a decade from now0], and chart a future path for Mars exploration.

*”NASA’s lunar presence will focus on science, resource management, and risk reduction for future missions to Mars.”

*”NASA will create a Moon-to-Mars Mission Directorate and make all necessary efforts to achieve Exploration Mission-1, a mission around the Moon without a crew.

*”Exploration Mission-1 will take place no later than 2020 (next year) and a crewed mission around the Moon, Exploration Mission-2, will take place no later than 2022 (3 years from now).

*”NASA will unleash American industry, including through public-private partnerships, to enhance innovation and the sustainability of its space activities.

*”The United States will engage with international partners to enable a sustainable lunar exploration and development program.

*”An American has not walked on the Moon in 47 years [no human being, for that matter], but President Trump is working to change that.

*”To achieve this goal, President Trump is taking action to ensure that American astronauts get to their destination quickly and sustainably.”

*”These recommendations follow President Trump’s bold call for America to go back to the Moon and establish a foundation for an eventual mission to Mars.

*”The President’s Space Policy calls for NASA to lead an innovative space program with commercial and international partners.

*”Americans will return to the Moon for long-term exploration, followed by missions to Mars and beyond.”

Trump Administration Wrong Not Sending High Level Officials to Belt and Road Forum

President Trump did not attend the first Belt and road Forum-(BRF) in May of 2017, only sending a sub ministerial delegation. According to the US State d\Department, no US delegation will be attending this month’s second BRF. If true, this would represent a serious error by the Trump administration in its future relations with China. Beyond China, the decision not to participate in this historic conference will undermine US commitment to collaborate with more than half the world’s population that has joined China’s Belt and Road Initiative (BRI). Thus far, the only G-7 nation that has the wisdom to join the BRI is Italy. A minimum of 40 heads of state will be attending the second BRF. For the US to abstain, from this conference on the Belt and Road, which has already transformed the planet, would be strategic blunder in US policy. A more enlightened US foreign policy would view China as a partner in development not as a competitor, as China as been described by the Trump administration.

(courtesy huffingtonpost.com)

April 4, 2019

State Department Says U.S. Will Not Attend the Belt and Road Forum

According to an unnamed spokesperson for the U.S. State Department yesterday, the United States will not send high-level officials to attend China’s second Belt and Road Forum for International Cooperation in Beijing later this month, Reuters reported. In 2017, when the first Belt and Road Forum took place, the U.S. was represented by Matt Pottinger, the senior White House official for Asia. There are no such plans this year, Reuters stated.

Answering a question from Reuters, the unnamed State Department spokesperson said: “We will not send high-level officials from the United States…. We will continue to raise concerns about opaque financing practices, poor governance and disregard for internationally accepted norms and standards, which undermine many of the standards and principles that we rely upon to promote sustainable, inclusive development and to maintain stability and a rules-based order. We have repeatedly called on China to address these concerns.”

On March 29, speaking to the ruling Communist Party’s official mouthpiece, {People’s Daily}, Political Bureau member Yang Jiechi, who runs the party’s foreign affairs committee, said he found that critics of the Belt and Road Initiative “obviously show a lack of objectivity and fair understanding of the Belt and Road initiative. It is a misunderstanding, misjudgment and is even prejudiced,” stated Yang. Yang also confirmed that “about 40” foreign leaders would take part in the second summit.

China’s BRI Expanding Trade in Africa With Infrastructure Where the West Has Failed: Djibouti

March 28, 2019

Djibouti Port Director: The BRI Has Vastly Expanded All African Trade and Development

Aboubaker Omar Hadi, chairman of Djibouti Ports and Free Zone Authority, told Xinhua on the sidelines of the Africa CEO Forum that “projects involving cooperation with China (such as the Ethiopia-Djibouti railway and the Doraleh Multi-Purpose Port and international free trade zone) are helping Djibouti promote trade in Africa as well as distribution across the East African region.” Hadi said that more than $40 billion in exports and imports has been recorded through Djibouti ports, “which couldn’t be achieved without developing proper infrastructure, such as sea ports and railway connections.” He went on: “I am expecting more movements of goods, infrastructure develop-ment from the second Belt and Road Forum for International Cooperation slated for April in Beijing, as well as stronger interconnection between Africa and the rest of the world,” speaking with Xinhua News.

Hadi also said that the accusations against China made by Western countries about letting some African countries fall into a debt trap due to cooperation on the BRI, are “complete nonsense, as benefits generated from infrastructure construction will far exceed the investment.”

China Prevails Where Europe Has Failed Miserably

“The New Silk Road is the biggest economic venture in mankind’s history,” former chief economist of Bremen Landesbank Folker Hellmeyer told Sputnik, saying it would be quite absurd if Europe did not take a part in it.  “The West could have built infrastructure in these countries in the past 50 years. We have not done this. China is now filling this gap–and we are criticizing that. That is also power play to a certain extent. That is also why it meets resistance. But we are developing human capital and a sustainable growth potential which is enormous. We could have done it, but we haven’t done it. And that is why we should not accuse others.”

Hellmeyer also said that “what I hear here in Europe in terms of criticism, I rather see as a kind of front line politics serving the interests of the U.S.A.”

Newly Elected President of D.R. Congo Addresses Issue of Lake Chad Water Transfer

Newly elected President of the Democratic Republic of Congo (DRC) Félix Tshisekedi addressed the issue of water transfer to save Lake Chad at the just- concluded Africa CEO Forum in Kigali, Rwanda. Speaking at the concluding panel together with host, Rwanda President Paul Kagame, Tshisekedi said that someone is proposing to pump water from the Congo River to save Lake Chad, but there are better options than that.

“On the water issue, which is a battle expecting us in the future, we can think about solutions at the mouth [of the Congo River], before the meeting with the ocean waters. There is a way to catch that water from the river and send it through pipes to countries that need it, rather than doing what has been proposed at some point in Chad — i.e. diverting the course of the Ubangi River. This can have consequences, including on energy, because of the peat bog system that helps the CO2-absorbing natural lungs. We believe that there are other solutions and the D.R.C. is ready to offer them to its partners to build this integration which is so important for us.”
https://www.youtube.com/watch?v=1pKAsR0qhtQ

President Tshisekedi is right when he rejects foolish ideas such as pumping water from the Congo River or diverting the course of the Ubangi. However, he should know that “other solutions,” namely the Transaqua project, have already been approved by the countries of the Lake Chad Basin Commission (LCBC) at the February 2018 International Conference on Lake Chad in Abuja, Nigeria, which was attended by a representative of the D.R.C.. He also should drop the narrative of the peat bog system, created by the British to block the development of the Congo basin.

LCBC observers see the glass as half-full and emphasize the good news of the D.R.C. government addressing publicly the issue and expressing its readiness to help. Notably, this was the first time that a President of D.R. Congo and of Rwanda have appeared together in public. Rwanda President Kagame stressed this in his speech, explaining that Africa will move forward only if personal animosities are put aside. Kagame has recently strongly supported China’s Belt and Road Initiative and blasted the West for having failed in its Africa policies

 

Nations Must Study Alexander Hamilton’s Principles of Political Economy

Hamilton Versus Wall Street: The Core Principles of the American System of Economics
Nancy Bradeen Spannaus iUniverse, Bloomington, Indiana, 2019, 222 pp. $13.99 soft cover, $5.99 e-book.

Hamilton Versus Wall Street: The Core Principles Of the American System of Economics      By Nancy Bradeen Spannaus

A Review by Lawrence Freeman-March 28 2019

For those followers of our beloved Alexander Hamilton and for those new to his writings, this book is for you. Nancy Spannaus, in her just-released book Hamilton Versus Wall Street, makes a unique contribution to the existing volumes written on Hamilton’s political and economic thoughts.  In her relatively short easy-to-read book, she weaves together Hamilton’s revolutionary ideas on political economy that served as the pillars for the creation of the United States, their legacy in the next two centuries of America, and their influence internationally. Throughout her treatise, Spannaus also provides constructive historical analysis of the battle inside the United States to adopt Hamilton’s concepts. This book is a valuable complement to Hamilton’s economic reports and will aid those unfamiliar with his seminal texts. *

Spannaus polemically begins by countering the popular myth that Hamilton was an agent for the banks (Wall Street) against the interests of the “little man,” agrarian society and the states, as espoused by Thomas Jefferson and others.  She later devotes entire chapters to Hamilton’s opposition to the British central banking system and Adam Smith, exposing another slander which alleged Hamilton was a supporter of the British aristocracy.

Principles of Political Economy

            Unlike like other publications on Hamilton that gloss over or give insufficient attention to Hamilton’s ground-breaking concepts of banking, credit, and manufactures, Spannaus makes a great effort to elaborate Hamilton’s contributions to: “The Core Principles of the American System of Economics.”  **

All nations would benefit greatly, if their leaders and citizens studied Hamilton writings. American culture would not be at the low level it is today, if my fellow citizens had been taught Hamilton’s economic theories, which in fact were crucial to the creation of our nation from thirteen indebted, agriculturally-based colonies. Advanced sector countries that are dominated by financial systems dictated by Wall Street and the City of London, and underdeveloped nations that rely on resource extraction and farming, because they lack a manufacturing sector, could learn a great deal from Hamilton.

However, Hamilton’s thinking about economic growth was not limited to the mere production of goods. He understood for society to continually increase the productive powers of the economy, the development of the human mind was essential. Spannaus quotes Hamilton: “To cherish and stimulate the activity of the human mind, by multiplying objects of enterprise, is not among the least considerable of the expedients, by which the wealth of the nations may be promoted.” (p. 28).

Friederich List, a student of Hamilton’s philosophy in the nineteenth century, wrote that “capital of mind, capital of nature, and capital of productive matter” are all essential components to achieve economic progress. (p. 29)

Hamilton’s First National Bank (courtesy ushistory.org)

The Constitution and Public Debt-Credit

Hamilton knew that for a nation to be truly sovereign, it must possess the means to produce the physical wealth necessary to maintain the existence of its citizens and their posterity. It is no coincidence that the Founding Fathers embedded this concept in the profound Preamble to the US Constitution. As Spannaus emphasizes, for Hamilton, the importance of establishing federal credit through the creation of the National Bank, stabilizing the currency, developing the manufacturing capability of the young United Sates, and increasing the wealth of the nation through internal improvements, was coherent with the intent of the Preamble “to form a more perfect Union.”

Hamilton used the “general welfare” clause of the Preamble to justify his revolutionary idea to create a public-private National Bank to consolidate the separate states and establish a unified currency to promote national economic growth. Generations later, in the footsteps of Hamilton, Franklin Roosevelt, who studied Hamilton’s writings, would also rely on the “general welfare” clause to garner support for his New Deal and other programs he initiated to revive the U.S. economy wracked by the Great Depression.  

Public Credit, anathema today to virtually all Democratic and Republican leaders, was another key concept Hamilton fought for, knowing that private sector funds and privately-owned banks would never adequately fund a nation’s economic growth, especially for large-scale internal improvements, i.e. infrastructure.

To emphasize the unique role of public credit, Spannaus lists four exceptional periods in U.S. history when the efficacious application of government-issued credit led to a pronounced expansion of the American economy. These are administrations of Presidents George Washington, John Quincy Adams, Abraham Lincoln, and Franklin Roosevelt. (p. 55-56)

In chapter 7, the author concisely summarizes Hamilton’s outlook: “…it is the deliberate increasing of the productive powers of labor through technology, improvements in infrastructure, and the use of government power to create credit that will produce value in the economy.” (p.128) This is more than good advice that all public officials. government leaders, and informed citizens should follow to secure a joyful future for their nation.

In Africa and other underdeveloped regions of the world where nations have suffered from hundreds of years of exploitation of their natural resources, Alexander Hamilton’s wise words should be fully grasped: “The intrinsic wealth of a nation is be measured, not by the abundance of the precious metals contained in it, but by the quantity of the productions of its labor and industry.” (emphasis added p. 1)

*Hamilton wrote four major economic reports for Congress and President George Washington between January 1790 and December 1791: Report on Public Credit; Report on a National Bank; Report on Manufactures; and Opinion as to the Constitutionality of the National Bank.

**This is the subtitle of Hamilton Versus Wall Street.

Italy, China, and Africa Busting Apart Old Geo-Political Regime

March 23, 2019

Italy and China Sign Groundbreaking MOU on Belt and Road Initiative

 

 

Italy and China have signed the famous Memorandum of Understanding on Belt and Road cooperation today, together with 10 economic agreements and 18 institutional agreements (19 with the BRI MOU). The MOU is a milestone and is said to already be being studied by other countries that want to follow Italy.

The MOU says at the outset that “The Parties will work together within the Belt and Road Initiative (BRI) to translate mutual complementary strengths into advantages for practical cooperation and sustainable growth, supporting synergies between the Belt and Road Initiative and priorities identified in the Investment Plan for Europe and the Trans-European Networks, bearing in mind discussions in the EU China Connectivity Platform.”

With the MOU, Italy is the first large industrial economy to join the Belt and Road, as Chinese media proudly stress. The signature of the MOU occurred in spite of trans-Atlantic pressures and open hostility by Italy’s “partners” in the EU. Italian Minister for Economic Development Luigi Di Maio, who signed the MOU together with his counterpart He Lifeng, chairman of the National Development and Reform Commission, stated that “today is for us a very important day, in which the Made in Italy is winning, Italian firms are winning. We made a step to help our economy to grow. Italy came first with China.”

The economic agreements include: a strategic partnership between the Italian Cassa Depositi e Prestiti and the Bank of China to finance Italian firms in China; a MOU between the Italian oil company ENI and the Bank of China for explorations in China; Ansaldo Energia signed two agreements, one to develop gas turbines with UGTC and another one for the supply of a turbine to Shanghai Electric and Benxi Steel; the Port Authorities of Trieste and Genoa signed an agreement with the construction giant CCCC. Cassa Depositi and the natural gas utility Snam signed a deal with the Silk Road Fund for investments along the Silk Road; the Institute for Foreign Trade signed a deal with Suning to create a platform to promote Italian lifestyle in China; and the Danieli group signed a contract with China Camc Engineering for the construction of a steel plant in Azerbaijan.

The institutional agreements, besides the MOU on the BRI cooperation, include cooperation on innovative startups and electronic trade, as well as cooperation between the two space agencies, agriculture and culture, health and media.

Read article

Italian Finance Minister Tria on Italy-China-Africa Cooperation

In an op-ed in {China Daily}, entitled “As Belt and Road Opens New Doors Across Globe, Italy To Play A Key Role,” Italian Finance minister Giovanni Tria emphasized Sino-Italian cooperation to develop Africa.

After praising the BRI as a way to relaunch global economic integration, Tria recalled that “In September, the Italian government signed a memorandum of understanding with China’s National Development and Reform Commission for joint cooperation in third countries. This way, Italy and China are committed to collaborating in important geographical areas such as Africa, which in the near future will be a top actor for demographic reasons and due to its prospects for economic growth.

“Playing a role in building and restoring large infrastructure is an invaluable opportunity for Italian companies. There is an astonishing variety of areas of expertise where Italy can provide a competitive, paramount contribution. Beyond those more strictly linked to the physical construction of infrastructure (machiner), logistics and plant construction), Italy has strong capabilities in the provision of high-quality technical services such as consulting, feasibility studies, design, engineering services, security, finance and insurance.

“Italy believes in the prospective cooperative development of the BRI. This process will help to identify the paths of action and the main projects. Italy also enjoys a strategic geographical position along the current and future frames of commercial relations between the East, the West and Africa. Located on the Mediterranean Sea, Italy is the second-largest manufacturing country in Europe, leading in technological innovation and equipped with high-quality ports and road and rail networks. These features make Italy the ideal southern gateway to continental Europe and for the trade routes between Europe and China.

“By opening new connections and intensifying trade relations, the BRI will help improve the competitiveness of Italian and Chinese companies operating in each other’s markets and together toward third markets, leaving the respective governments with the task of providing adequate support to foster a business-friendly climate that can enhance their expertise, strengths and innovative approaches.

“I believe that developing physical connections, while enlarging and strengthening cooperation networks and partnerships, represents a valuable opportunity to face the challenge of sustainable growth and to avoid backtracking toward protectionism and nationalism. Commercial synergies and relationships of trust represent the path we want to take to counter international tensions and to favor wider and more widespread global well-being.”

 

Celebrating Kwame Nkrumah’s Ghana With Observations from Cape Coast By Donielle DeToy

Please accept an article from my wife, as my belated contribution to the March 6, anniversary of Ghana’s independence from its colonial master, Great Britain.

 Akwaaba: You Are Welcome in Ghana by Donielle DeToy

 I have just completed seven weeks of my teaching internship at Mary Queen of Peace Catholic School in Cape Coast, Ghana. Living in the tropical region of Cape Coast and learning about Ghanaian culture was a unique and transformative experience that I shall always cherish. I loved everything about Ghana, the culture, people, climate- Cape Coast was welcoming and beautiful.

This is not my first adventure onto the large continent of Africa. In 2011 and 2012, I traveled to Sudan visiting Khartoum, Darfur, and the Nuba Mountains. In 2014, I had the honor of accompanying my husband to Ndjamena, Chad. He is a scientific adviser to the Lake Chad Basin Commission (LCBC). We attended a conference addressing the complex dangers of Lake Chad evaporating and made proposals for workable solutions. We then explored Ethiopia both Addis Abba and the Rift Valley region. Of all my travels to Africa, Ghana was the absolute best!

There is a phrase the Ghanaian population speak when greeting visitors, “Akwaaba” which means “you are welcome” or “happy to have you visit.” Ghanaians definitely “Akwaaba” visitors and make you feel very relaxed. That welcoming spirit shines in every classroom at Mary Queen of Peace Catholic School.

If you don’t like warm weather or tropical creatures, you won’t like Ghana, but I loved it! Ghana is close to the equator and the sun sets very quickly. Cape Coast is on the ocean and it is often hot and humid. However, there is a cool and refreshing breeze throughout the night.

As for the tropical creatures- I shared my room with 4 (probably more) Geckos and no they don’t have funny Australian accents. These creatures are EVERYWHERE!! Outside, inside, under, over, above, absolutely everywhere. I learned to live with them (I didn’t really have a choice). I was outnumbered AND in that tropical climate there is an advantage of having roommates who eat bugs. I gave some of them names which personified them and discovered where they “live” within our house and school. There are two other common lizards in this region, the first is a slower moving Agama Lizard, there is one that lives on the school campus, he is nicknamed “Charlie.” The other managed to evade my camera- it is called a Monitor Lizard; my students call them “dragons” probably because they can weigh up to 200 pounds.

Are there cultural differences?? Absolutely. One of the amusing and challenging tasks was trying to explain winter temperatures, snow, and ice to my kindergarten age school children. They have never experienced temperatures below 70 degrees and only know two seasons; raining and dry. I taught a unit on weather and showed pictures and videos of Maryland’s bitter cold, but it was still too abstract. Finally, I made a huge block of ice and asked each student to hold her/his hand on it for as long as possible. They loved it!! Although most could not keep their hands on the ice for more than 30 seconds.

My students were very respectful and greeted us by our first names, but with the pre-fix “Teacher”, so I am “Teacher Donielle.” Education is universal, all children love to laugh, discover, and learn. The more fun I can have teaching my lessons, the better their learning experience.

In Ghana, Friday is Africa dress day, everyone wears traditional African attire. I decided to join the fun and wore a lovely African dress. All the teachers at my school were very happy that I joined in the tradition. I believe when visiting (and teaching) in another country one needs to participate in cultural activities. The teachers appreciated it and my students loved the fact that I got dressed up for their special day.

One of the saddest moments was my visit to the infamous slave castles/dungeons. I toured two different ones. The first, was in Elmina, this is the largest slave castle, built by the Portuguese in 1482. It had been sacred land for the people, but the European empires were callous and erected a hideous structure of death over this revered area. This “castle” was used as an export point for African men and women for over 400 years. The brutality in which the Europeans treated the people of Africa is revolting and horrifying. One tour guide estimated that over 20 million slaves were shipped from Africa. The other Castle was in Cape Coast. Our guide briefly locked us in one of the dungeons…the stench of blood and death still lingered, 200 years later. Both castles have a “door of no return” this is a narrow opening where the slaves where forced onto a ship leaving their homeland forever.

During a brief stay in Accra prior to my departure, I visited the museum and mausoleum of Kwame Nkrumah. He was the founding father of Ghana, achieving independence from the British empire in 1957.  He was also a key component in the creation of the OAS- Organization of African States. I was struck at the strong connection between Nkrumah and America. The museum had dozens of artifacts from his 1939-1944 studies at University of Pennsylvania and Lincoln University. During his lifetime he reflected a deep understanding of the true meaning of American System of Economics. This is most evident in his speech at the founding conference of the OAS, which called for a commitment to a scientific and infrastructure renaissance in Ghana and Africa, echoing both Franklin Roosevelt and John F Kennedy.

Two happy Presidents, John Kennedy and Kwame Nkrumah, Washington DC March 1963. Nkrumah was Kennedy’s first Head of State to visit the White House.

After my first week in Cape Coast, I thought the biggest challenge and most difficult adjustment was not being plugged into the internet or access to emails 24 hours a day. But as I prepared for my departure, I realized the most difficult task was saying good-bye. The school theme for Mary Queen of Peace is Shine Forever, and the School Sisters of Notre Dame, students, staff, and community shall Shine Forever in my heart.