Please watch the video above. It is is a unique discussion on Alexander’s Hamilton’s contributions to economic progress through examiningthe policies of China, Africa, and the U.S.
September 3, 2026
China believes it is better to contribute to the development of African nations, to not have their populations suffer in poverty, but rather experience a continuous rising standard of living. The West does not!
Contrary to constant maligning of China by the West, accusing it of conducting a new form of colonialism against the people of Africa, China has been an indispensable partner for development. There is not and never has been a “debt-trap “ policy to seize mineral resources of African nations. Any American official repeating this defamation is either an ignorant fool or a liar. The West dominated the African continent for decades, while China has only recently in this century, expanded its involvement with the nations of Africa. The creation by China, of the Forum on China-Africa Cooperation (FOCAC) in 2003, has established a unique political, economic cooperative relationship with African nations.
As Alexander Hamilton understood, and his followers of his school of economic thought, which became known as the American System of Political Economy knew, the key to the growth of a nation, and its economy, is to increase the productive powers of labor. This requires a growth in manufacturing, it requires massive investments in infrastructure, and it requires nurturing the creativity of the population to discover new scientific principles, from which new technologies are derived. With the application of new technological advancements, the economy is able to leap, if you will, to a higher level of productivity, generating greater economic output.
This is what should be understood by Western officials. There are people in China who think this way. Presently, we don’t have people in the West, and the United States in particular, who refuse to comprehend these essential elements of economic growth. The Western political-financial elites are mired in a monetarist world dominated by making money, which they foolishly believe is wealth. They lack any understanding of what the requirements are to actually develop an economy physically, nor the necessity to promote a culture that fosters the creative potential of its people. They don’t understand the difference between making a so called profit from monetary speculation, the stock market, or manipulating the market, as opposed to increasing the profitability of the physical economy. China’s Belt and Road Initiative (BRI) is attacked by the United States and the West, who fail to comprehend that the BRI is a modern day extension of Hamilton’s economic principles.
China has proved, beyond any question, that their investments in science and technology, infrastructure, and manufacturing in particular, have transformed their economy, their society. With the proven reality of this success, China can lead the Global South on a pathway of real economic development
The African continent is projected to have the largest population in the world-approximately 2.5 billion people by 2050. That’s not a burden. It is a resource of new creative minds, which are the real source of value for any economy, more valuable than minerals or artificial intelligence.
I believe watching this video will help you understand these principles that I have outlined above.
Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in economic development policies for Africa for 35 years. He is a teacher, writer, public speaker, consultant on Africa, and an analyst of global strategic relations. Mr. Freeman strongly believes that economic development is an essential human right. He is the creator of the blog: lawrencefreemanafricaandtheworld.com, also publishes on: lawrencefreeman.substack.com, “Freeman’s Africa and the World, and on X@lkfreemansafrica
I was surprised but not entirely shocked to receive this certificate of appreciation signed by the President of Ethiopia, H.E. Taye Atske Selassie.
I was one of the very few Americans, and the most vociferous, in defending the sovereignty of Ethiopia from the regime change attempt by the Tigray People’s Liberation Front (TPLF), in their war against the nation-state of Ethiopia, from November 2020 to November 2022. I put my personal reputation on the line, and placed myself in opposition to my own government, who made known to me their disapproval of my actions. Defending Ethiopian sovereignty from an ethnic nationalist militia that was trying to remove the elected government of Ethiopia, was not a difficult decision for me, it was almost instinctive.
I have been involved in analyzing the political economies of African nations for almost four decades and have developed an extremely sensitive “political nose” if you will, to operations to destabilize and overthrow African nations. I knew in days, with certainty, that the TPLF initiated war, was part of a larger political operation, supported by the Western nations including the United States, to weaken and potentially remove, Prime Minister Abiy Ahmed from power. I never wavered in my support of the nation-state of Ethiopia during the war, and have remained steadfast today, while others have deserted the defense of Ethiopia.
The Grand Ethiopian Renaissance Dam-Office of the Prime Minister
What Caused Me to Act?
For me, the actions of a government to develop its economy, by investing in infrastructure, and the expansion of its manufacturing and agricultural sectors are of extreme significance in determining its viability. I decided in 2010, to begin a more serious analysis of Ethiopia and its political economy. This led me to investigate its policies over previous decades and its plans for its future development. I published my analysis of Ethiopia’s commitment to economic growth on my website. My first visit to Ethiopia was in 2014, following three days of meetings in N’Djamena, Chad, where I was appointed the Vice Chairman of the Scientific Advisory Committee of the Lake Chad Basin Commission. Since then, I have visited Ethiopia many times, often in defiance of the U.S. government, that was ordering Americans to leave Addis Ababa in 2021, offering to purchase tickets for their departure.
I was, and am aware today of the challenges in Ethiopia, especially the dangerous escalation of ethnic nationalism. However, it is Ethiopia’s overall commitment to progress, that surpasses that of other African nations, which has steered me to defend Ethiopia’s sovereignty. My awareness of Ethiopia’s intent to initiate the construction of the Grand Ethiopian Renaissance Dam (GERD), reinforced my views of Ethiopia’s commitment to the future. I supported the building of the GERD early on because of its importance in bringing electricity to this African nation and its neighbors to power their economies and people. I know very well that Africa’s huge deficit in electricity is killing Africans everyday across the continent. Subsequently, I visited the GERD twice and participated in the book launch of the most complete history of the GERD.* The GERD remains today, the most significant accomplishment in sub-Saharan Africa since the liberation movement freed African nations from British Imperialism. This fantastic water infrastructure project, has the potential to provide African nations with 5,150 megawatts of electrical power, dwarfing any other energy source on the continent.
The author standing in front of five of the thirteen completed waterways that deliver the water to the turbines.
The Ethiopians began planning for this magnificent dam in the 1960s, under the leadership of Emperor Haile Salaisse. Sixty years before the GERD was to begin operations, Ethiopia envisioned capturing the energy of the Blue Nile flowing down from lake Tana. Thus far, it is a singular accomplishment in Africa, by the Ethiopian people. Currently plans exist by Ethiopia to exploit the water rich Blue Nile Basin with the construction of additional water infrastructure projects.
After reading the history of the Ethiopia’s defeat of the Italian army on the battlefield of Adwa, on March 1st, 1896, I recognized the impetus for the bold thinking of the people of Ethiopia, to build this massive dam more than a century later. Ethiopia free from having never experiencing the shackles of colonialism, had higher aspirations for their nation’s future.
The Defeat of the Italian Army on March 1, 1896, prevented the European colonization of Ethiopia-Wikipedia
How DID I Know?
While western governments, international and regional media predicted that Ethiopia would collapse when the TPLF was marching south towards Addis Ababa; I knew that the Ethiopian people would not allow this to occur. Furthermore, I understood these false predictions as a form of psychological warfare to defeat the Ethiopian people. I stood virtually alone as a Westerner in my knowledge of the resilience and patriotism of the Ethiopian people. Addis Ababa was not invaded, Ethiopia did not fall, and the TPLF were forced to surrender. I was right. All my former and current colleagues and friends, and those who claim to know how geopolitical forces operate in Africa, who ridiculed me for my position in defense of Ethiopia, turned out to be dead wrong. How did I know?
I have trained myself to think differently. I’ve trained myself to withstand the force of public opinion, ridicule, and peer group pressure. I am able to reach a conclusion through the reasoning of my mind, founded on my knowledge of the people, the history of a nation, and the geopolitical intent of the West’s rules-based order. My actions are guided by decisions informed by reason, from which I will not waver unless persuaded by superior reasoning. This is what makes me valuable as an analyst and consultant, together with my expertise as a physical economist. Some countries, institutions, and thoughtful individuals recognize and appreciate my unique qualities, and thus are willing to collaborate with me. Others who are less thoughtful, do not.
*How this Happened: Demystifying The Nile,History and Events Leading to the Realization of the Grand Ethiopian Renaissance Dam, by Dereje Befekadu Tessema
Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in economic development policies for Africa for 35 years. He is a teacher, writer, public speaker, consultant on Africa, and an analyst of global strategic relations. Mr. Freeman strongly believes that economic development is an essential human right. He is the creator of the blog: lawrencefreemanafricaandtheworld.com, also publishes on: lawrencefreeman.substack.com, “Freeman’s Africa and the World, and on X@lkfreemansafrica
In my thirty minute discussion on OBN, with Addis Assefa, I outline the fundamental national interests of Ethiopia and how to achieve them.April 10, 2026.
June 21, 2026
The government of Ethiopia has two primary obligations to its citizens. One, to adopt policies that lead to a continuous improvement in the standard of living of the entire population. Two, to safeguard and preserve the integrity of Ethiopia as a nation state, emphasizing the quality of Ethiopian citizenship as opposed to a so called ethnic-nationalist identity.
The vulnerabilities to the Ethiopian state, like any nation, emanate from lack of economic development of its society. Poor people become desperate people, and desperate people can be manipulated to act against the interest of their nation. Therefore, government must initiate policies and programs that significantly reduce, if not eliminate poverty, and substantially raise the wages of its citizens. A national development agenda that is inclusive of all regions and ethnicities of Ethiopia is the best method for achieving Ethiopia’s two fundamental national interests. If citizens perceive that their government is pursuing efforts to improve their lives they will respond supportively.
The creation of the Grand Ethiopian Renaissance Dam, the GERD, is not only a singular accomplishment for Ethiopia and its people, but for all of Africa. It indicates the potential of Ethiopia to address other economic and societal challenges. It provides desperately needed electricity, not only to Ethiopia but to other nations in East Africa. While Addis Ababa has been transformed over the last decade, other regions of Ethiopia require the same attention and infusions of infrastructure. Agriculture has vastly improved, especially in wheat production, through farm collectives and the expanded use of irrigation. Manufacturing has increased, but Ethiopia, like every nation who desires to achieve economic sovereignty, requires a robust indigenous manufacturing sector.
Ethiopian diaspora correctly supported the government of Abiy Ahmed in its two year war against the Tigray People’s Liberation Front (TPLF). If this regime-change war initiated by the TPLF had been successful, the nation of Ethiopia would have been destroyed, leaving behind warring ethnic fiefdoms. Victory by the government of Ethiopia was existential. Following the peace agreement, Ethiopian diaspora in the U.S., with the vast majority of their allies, have lined up in support of one or another of ethnic nationalist groups, who are once again involved in regime change.
Watch my thirty minute discussion above, to understand the best approach for Ethiopia to realize its true national interests
Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in economic development policies for Africa for over 35 years. He is a teacher, writer, public speaker, consultant on Africa, and an analyst of global strategic relations. Mr. Freeman strongly believes that economic development is an essential human right. He is the creator of the blog: lawrencefreemanafricaandtheworld.com, also publishes on: lawrencefreeman.substack.com, “Freeman’s Africa and the World, and on X@lkfreemansafrica
Watch my hour long discussion analyzing recent developments in the war against Iran, MAGA, and China.
April 4, 2026
As we are now entering the sixth week of President Trump’s unilateral, preemptive, regime change war, the ruling powers of the West are arguably facing their most severe crisis since World War II. While this brings with it inherent dangers, it also provides the world with an opportunity to free itself from the rules based order, which has dominated the world for more than four generations.
President Trump has now adopted the neoconservative policy of using America’s military might to unjustifiably enforce its rules of behavior on the rest of the world. For over a decade, President Trump had campaigned vigorously against this neocon policy of military intervention against other nations. This was one of the key features of his so-called MAGA movement. As a result of his reversal, we are seeing splits inside the MAGA movement, and now even in the Republican Party, which has otherwise followed his every command.
There is no question that curtailing China’s growing influence in the world, is a key factor in President Trump’s conduct in the Western Hemisphere, in Africa and in the Middle East. In this regard, President Trump is following in the footsteps of his predecessors, Presidents Obama, and Biden, whom he despises, in rejecting China’s Belt and Road Initiative.
The United States, the strongest military and economic power, is suffering greatly. When President Trump spoke to the American people on Tuesday night, March 31st, he grotesquely threatened “to bomb Iran back to the stone ages.” This is utterly un-American!
The United States, going back to the presidency of Franklin Roosevelt, has had a policy of working with other nations, including China, and those in the developing sector, to improve the living conditions of all nations. President Roosevelt’s intention in creating the International Reconstruction and Development Bank in July 1944, was to provide long-term, low-cost credit to help poorer nations industrialize.
Therefore, with this history as part of the United States, we must work to bring about a new leadership in America, whose policies will be coherent with those of the Global South, the majority of the world’s population. China is not our enemy. China is our potential ally in securing a shared common future for mankind, which will be based on peace, security, and prosperity. This paradigm for development has to become the vision of the United States, replacing the diseased “zero-sum” mentality that always leads to war.
Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in economic development policies for Africa for over 35 years. He is a teacher, writer, public speaker, consultant on Africa, and an analyst of global strategic relations. Mr. Freeman strongly believes that economic development is an essential human right. He is the creator of the blog: lawrencefreemanafricaandtheworld.com, also publishes on: lawrencefreeman.substack.com, “Freeman’s Africa and the World, and on X@lkfreemansafrica
Emperor Haile Selassie with President Franklin Roosevelt, February 13, 1945,
March 30, 2026
It is my self-assigned responsibility to be brutally honest in discussing policies to create real physical wealth in Africa. I am aware of only one other individual, a former minister from a West African nation, who understands the importance of addressing Africa’s enormous infrastructure deficit. To be clear: without a massive expansion of infrastructure, especially electricity and rail lines in Africa, there will be no significant improvement in the material standard of living of the majority of the continent’s growing population. This is an existential imperative with Africa’s population projected to reach 2.5 billion people in twenty-five years, Without the capability to generate accessible and abundant megawatts of electricity, African nations will never become industrial nations, and extreme poverty will remain pervasive. This is reality. Expanding real-physical economic growth must become the primary focus of all those deeply concerned with the future of the African people.
This requires a facility, whose obligation will be to issue long-term low interest productive credit for the creation of physical, tangible wealth. Understanding the difference between productive credit as opposed to money, monetary stock market and real estate values is crucial. Personal accumulation of money, and financial holdings do not represent wealth, because they do not create. What one can buy or own is dependent on the existent productive process of society. Directed productive credit transfers a nation’s economy from the here and now to a time and place that does not yet exist, except in the mind’s eye. Productive credit properly invested takes a nation’s economy from the present into the future. Infrastructure, funded by long term low-cost credit, transmits new, additional physical value to an upgraded productive economic process. Infrastructure is the conveyor belt that transmits value from technologies derived from new scientific discoveries. Infrastructure augments the entire economic process, adding additional wealth to all sectors of society. This generates advancements in the productive process of the economy resulting in an increase in the production of physical wealth.
In summary, let me be unequivocally clear.
The lack of electricity is literally killing Africans every day.
Without abundant and accessible electricity for consumers and producers, African nations will not industrialize and will not eliminate poverty.
The scale of investments necessary to add a minimum of one thousand gigawatts of electrical power to the grid of African nations requires hundreds of billions of dollars in long-term low-interest credit.
Only government supported credit will suffice. Private sector credit alone will not be sufficient. Private sector investment schemes to electrify the African continent have thus far failed.
These are essential tenets of physical economy that African nation must address. The reality is indisputable. The nations and people of Africa are dying from the lack of electricity. Over decades I have argued with many so called experts on Africa, both African and non-African alike, who have proposed one or other schemes to avoid facing this reality. The fact that almost six hundred million Africans in 2025 still do not have access to on-grid electricity is proof of the glaring inadequacies of existing policies.
Every industrialized nation has successfully provided electricity to its consumers and producers. President Franklin Roosevelt transformed the United States with his New Deal, which included The Rural Electrification Act of 1936. In doing so, President Roosevelt was fulfilling his constitutional responsibility to promote the general welfare as stipulated in the U.S. Constitution.
President Roosevelt in 1936, campaigning to improve living conditions in the U.S. (courtesy of americansystemnow.com)
Roosevelt’s Bank for Development
The Bretton Woods System we know today is disliked by those of us committed to the physical economic development of nations. Unknown to many, the key feature of Bretton Woods was the International Bank for Reconstruction and Development (IBRD), known today as the World Bank, which was created to provide development credits for economic growth. Bretton Woods today, is not what President Franklin Roosevelt intended. Following his untimely death in 1945, it increasingly became a failed institution manipulated by the political-financial elites for economic control not development.
Prior to the entry of the United States into World War II, and years before the end of the war in 1945, President Roosevelt had already formulated in his mind the creation of a Grand Design of new political-economic relations for the world. His post-World War II design included not only crushing the British imperialist colonial system, but most importantly creating a new financial system to expand trade, promote economic growth, and increase the development of each nation’s productive economic capacity. His thinking was in part informed by his successful domestic New Deal that transformed the United States from a country wrecked by the 1932-1933 depression into the arsenal of democracy.
Could methods of public sector financing and state-led development, successful in President Rosevelt’s New Deal be used to promote international development? One of the forerunners to the Bretton Woods IBRD was his earlier attempt to create an Inter-American Bank (IAB) to promote economic development in Latin American nations. Under Secretary of State, Summer Wells, describe the purpose of the IAB: Its principal importance will lie in investigating and facilitating rather long-term development projects in other American republics…
An advisor to President Roosevelt working on the IAB, wrote: Without these projects, private investment, industrialization, and agricultural diversification would be impossible…there could not be an increase in productivity, and in the standard of living, which these basic development projects make possible. (emphasis added)
This view was coherent with the third of President Roosevelt’s Four Freedoms, which he outlined in his January 6, 1941, message to the U.S. Congress:
Certainly, this is no time for any of us to stop thinking about the social and economic problems which are the root cause of the social revolution which is today a supreme factor in the world.
The third is freedom from want–which translated into world terms, means economic understandings which will secure to every nation a healthy peacetime life for its inhabitants-everywhere in the world.
Far different from the regime-change policy of President Trump today.
President Roosevelt‘s likeminded thinkers included Secretary of State, Cordell Hull, Secretary of the Treasury, Henry Morgenthau Jr., and Department of the Treasury, Harry Dexter White. The task of outmaneuvering John Maynard Keynes, who was intent on maintaining the British colonial system, and opposed President Roosevelt’s post war strategy, was often given to White. Keynes who led the British delegation at Bretton Woods wanted to create an Anglo-American controlled global central bank, which would deny nations sovereign control over their own currencies.
Make no mistake, it was President Roosevelt’s conception of economic development that guided American involvement at the Bretton Woods Conference, which began on July 1, 1944.
Hamilton Present at Bretton Woods
Alexander Hamilton’s American System of Political Economy was present at the conference. President Roosevelt was a student of Hamilton’s American System and his great-great grandfather, Issac Roosevelt, was a close collaborator and friend of Hamilton in post-Revolutionary New York.
President Roosevelt’s ideas of economics were shaped entirely from his schooling in Alexander Hamilton’s economic principles, which he studied during his rehabilitation after contracting polio in 1921.
An excerpt from his short essay written in 1924 promoted Hamilton:
“Washington, the first President under the Constitution, made Hamilton Secretary of the Treasury- the greatest of the Cabinet offices. As he [Hamilton] had stabilized the problems of State, so now he ordered the finances of the country, and it was his impetus that removed for all time the risk of disintegration of the States.
None appreciated this solidarity more than Aaron Burr, who, defeated for the Presidency in his race against Jefferson [in 1800], largely through the efforts of Hamilton, saw in this greater financial security the banishment of his dream of establishing a Northern Confederacy Nancy Spannaus, author of Hamilton vs Wall Street, succinctly wrote of President Roosevelt’s application of Hamilton’s economic principles’
The economic policiesand style of governance which FDR needed in order to get out of the Depression, required adopting Hamiltonian principles. These included re-establishing sovereign control of the U.S. currency, banking regulation (against speculation), government credit for building infrastructure and raising productivity (through the Reconstruction Finance Corporation), and support for advancing the general welfare in myriad ways. FDR pursued all these objectives, asserting he was fulfilling the mandate of the Constitution—the very Constitution which Hamilton played a major role in bringing into being, and gave his life to defend.
President Roosevelt was informed by crucial Hamiltonian principles, which he believed would create a better world following the end of World War II. These were: 1) providing capital i.e., inexpensive long term credit to enable less developed nations to industrialize their economies; 2) recognizing that an essential responsibility of the nation-state is to intervene in promoting their economies, known as state-led development.
Historian, Eric Helleiner, chronicles this process leading up to, and throughout the conference, in his book, Forgotten Foundations of Brenton Wood: International Development and the Making of the Postwar order. Much of the historical material on theBretton Woods Conference in this article is from Helleiner’s book.
Harry Dexter White (l) and John Maynard Keynes (r) at Bretton Woods. (courtesy of nationalww2museum.org)
FDR’s Goal Was Development
Helleiner correctly argues that the poorer countries seeking to catch up economically had national economic strategies, often inspired by Frederick List’s advocacy of state-industrialization. It is important to know that Frederick List was an adherent of the Hamiltonian American System, contrary to the British free-trade system, whose goal was solely to maximize monetary gains. Roosevelt’s clear intention was to establish a new financial system, led by the United States, which would become a partner to the less developed nations.
Helleiner emphasizes that the commitment to promote development in poorer countries remained central to the US goals for the post war international financial system.
Harry Dexter White, in a January 1942 draft, wrote that a central purpose of “The Bank” was the provision of long term capital for desirable productive projects that served directly or indirectly to permanently raise the standard of living of the borrowing country. (emphasis added)
In a May memorandum, White stressed to President Roosevelt that his plan was to supply the huge volume of capital that will be needed abroad for relief, for reconstruction, and economic development essential for the attainment of world prosperity and higher standards of living. (emphasis added)
President Roosevelt and his team at Bretton Woods understood that to guarantee world security in the post-war era, required economic growth for every nation. They knew that for poorer nations to realize their full economic potential, to raise the productive power of their economies, they needed access to capital for long term investment in industry and infrastructure. Peace and security were inextricably bonded to prosperity.
Henry Morgenthau emphasized this conception in November 1943, observing that:
one great contribution that the United Nations can make to sustain peace and worldwide prosperity is to make certain that adequate capital is available on reasonable terms for productive uses in capital poor countries…It is imperative that we recognize that the investment of productive capital in the under developed and capital needed countries means not only will these countries will be able to supply at lower costs more of the goods the world needs but they will at the same time become better markets for the world’s goods
President Roosevelt had his team collaborate with China throughout the conference. He instructed military advisors traveled to the headquarters of the Communist Party of China in Yenan, during the Bretton Woods Conference. In November 1944, a U.S. Treasury official surreptitiously met with top Chinese Communist official, Chou En-Lai. Chou noted that with regard to China’s post war position, her greatest economic need would be for foreign capital. Exactly what President Roosevelt intended to provide
Roosevelt intended The International Bank for Reconstruction and Development to be a lending intuition for development
A New Financial System is Born
President Roosevelt’s Grand Design proceeded, despite opposition from international banking interests, who were intentionally kept out of these deliberations, and Keynes, who represented the British Empire,
The conference ended on July 22, 1944. Morgenthau gave the concluding remarks, in which they accentuated the guiding principles for the establishment of this new system. He asked;
What are the fundamental conditions in which commerce among nations can flourish?
First there must be reasonable stable standard of international exchange…
Second, long term financial aid must be made available at reasonable rates to those countries whose industry and agriculture have been destroyed…
The institutions proposed by the Bretton Woods Conference would indeed limit the control which certain private bankers have in the past exercised over international finance.
The effect would be to provide capital for those who need it at lower interest rates than in the past and to drive only the usurious moneylenders out of the temple of international finance.(emphasis added)
The U.S. Congress voted up the Bretton Woods Agreement Act in July 1945, and President Harry Truman signed it into law on July 31, 1945. President Roosevelt did not live to see the enactment of his Brenton Woods. He died on April 12th, 1945, only a few months into the first year of his unprecedented fourth term as president of the United States. However, on February 12, 1945, two months before he died, President Roosevelt urged the Congress to adopt the Bretton Woods agreements. There was no ambiguity in his remarks in outlining how to achieve peace and security in the post-war world. President Roosevelt told the Congress:
These proposals for an international Fund and international bank are concrete evidence that the economic objectives of the United States agree with those of the United Nations. They illustrate our unity of purpose and interest in the economic field. What we need and what they need corresponds–expanded the production, employment, exchange, and consumption–in other words more goods produced, more jobs, more trade, and a higher standard of living for us all.
The Grand Ethiopian Renaissance Dam, a great infrastructure accomplishment for Africa
Roosevelt Supported Ethiopia vs British
In contradistinction to Roosevelt’s intent of addressing the question of poverty for nations of the developing sector, Keynes was more concerned to uphold the dominance of the British Empire. The British wanted to keep their empire intact and continue through colonial policies, to deprive developing sector nations of the means to develop their own industrial capability. British imperialist interests compelled underdeveloped nations to remain agrarian based, subject to raw material and cheap labor exploitation by colonial structures. Thus, depriving them of the opportunity to free themselves from poverty by denying their economies productive infrastructure and industry to generate their own economic wealth.
At the conclusion of the Bretton Woods Conference, Ethiopia expressed, over American CBS radio its aspiration to raise our standard of living. To achieve that goal Ethiopia would require the sovereign right to control its own currency in order to manage its own money supply and credit. The British had other ideas.
Helleiner, in his book reports the little publicized history of U.S. support to free Ethiopia from British colonialism. Keep in mind, Ethiopia attended the Bretton Woods Conference as a fully independent sovereign nation; the only such nation in sub-Saharan Africa at the time.
After Ethiopia was liberated in 1941, from five years of Italian occupation, their banking system needed reorganization. They desired to have a new national currency controlled by the Ethiopian nation-state. The British, in April 1942 proposed the creation of the “Ethiopian pound” for their national currency, whose management would be modeled on the currencies of British colonies in East and West Africa. This currency would be pegged to the British sterling and was to be managed by a London-based currency board run by two British officials and one Ethiopian representative. Foreign exchange from Ethiopia’s exports would continue to be surrendered to the British exchange control board.
Refusing to accept this, Ethiopian officials reached out to the United States to support a plan independent of the British. After meeting with White, and without notifying the British, they developed a strategy for a strong Ethiopian currency pegged to the US dollar, which was introduced on Emperor Haley Selassie’s birthday in July 1945. The United States had already printed up bills and coins denominated in dollars behind the backs of the British.
A memo written by a member of White’s staff made clear Roosevelt’s intent was to help Ethiopian develop their nation. The United States viewed the financial reorganization of Ethiopian currency as central to Ethiopia’s future: if the Ethiopian government intends to engage directly in the financing of internal industrial development of the country.
The British were forced to accept this new currency despite their earlier intent to control the Ethiopian economy. United States officials welcomed this new currency stating that the new Ethiopian monetary legislation was well adapted to step towards economic emancipation of Ethiopia. In Ethiopia, local British officials were very resentful of the Americans, who they accused of pandering to the worst Ethiopian instincts rather than advise in accordance with the British full masterly tradition. The British maligned the Ethiopians who were in charge of their economic affairs as nothing more than unqualified incompetent and greedy amateurs. U.S. officials responded and complained that the British advisors in Ethiopia were dominated by crude concepts of Empire, and no effort is made to help the country develop.
Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in economic development policies for Africa for over 35 years. He is a teacher, writer, public speaker, consultant on Africa, and an analyst of global strategic relations. Mr. Freeman strongly believes that economic development is an essential human right. He is the creator of the blog: lawrencefreemanafricaandtheworld.com, also publishes on: lawrencefreeman.substack.com, “Freeman’s Africa and the World, and on X@lkfreemansafrica
Watch my thirty-eight interview with Worku Asfaw, on November 11. 2025.
November 21, 2023
In this penetrating interview, I discuss Ethiopia’s plight to achieve access to a port on the Red Sea, avoiding war at all costs. We must proceed to create a peaceful solution. That requires that African nations do not internalize the dangerous dogma dominating Western thinking that the world is a “zero-sum game.” African nations should not emulate the West’s diseased ideology of the so called “rules-based international order.” Instead, we should elevate our thinking to a higher domain of mutual economic cooperation that benefits all nations. Nations should no longer get trapped into reacting to the past, to colonial legacies, and instead to create a vision for development for 20-40 years into the future. We should recognize that all nations share a common interest, in which nations understand that the “benefit to the other is a benefit to thy self.” This approach focuses on promoting physical economic growth to all the nations in the region, to lift up millions of Africans suffering from poverty. Poverty is the great destabilizer of African nations, which must be eliminated to create conditions for durable peace and stability.
Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in economic development policies for Africa for 35 years. He is a teacher, writer, public speaker, consultant on Africa, and an analyst of global strategic relations. Mr. Freeman strongly believes that economic development is an essential human right. He is the creator of the blog: lawrencefreemanafricaandtheworld.com, also publishes on: lawrencefreeman.substack.com, “Freeman’s Africa and the World, and on X@lkfreemansafrica
Horn of Africa Digest interview with Lawrence Freeman and African Renaissance Television Services (ARTS) on August 28, 2025
September 8, 2025
One the eve of the official inauguration of the Grand Ethiopian Renaissance Dam, learn everything you need to know about the GERD, geopolitically, culturally, historically, and economically, by watching this informative discussion by Ethiopian experts and myself.
Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in economic development policies for Africa for 35 years. He is a teacher, writer, public speaker, consultant on Africa, and an analyst of global strategic relations. Mr. Freeman strongly believes that economic development is an essential human right. He is the creator of the blog: lawrencefreemanafricaandtheworld.com, also publishes on: lawrencefreeman.substack.com, “Freeman’s Africa and the World, and on X@lkfreemansafrica
Watch my interview (click on above) from August 23, with podcaster Amanda Akalonu, host of The Amanda Show, from Nigeria.
August 25, 2025
Many western historians, and analysts, when discussing contemporary Africa, overlook the long waves of history that have contributed to the challenges facing nations in the continent of Africa, including poverty. There is no way of ignoring the effects of over half a millennium of forced deportations, slavery, oppression, and manipulation against the African people.
In truth, poverty in Africa today has its roots in the early 1400s, when the Portuguese forced over two hundred Nigerians into slavery. For the next 600 years slavery ripped apart the culture and identity of African societies. This was followed by the notorious Berlin Conference of 1884-1885, which divided the continent according to the imperial wishes of the European colonizers. The liberation movements of the 1960s did not completely achieve the freedom they fought for. In addition to coups and assassinations directed by the Western financial-political oligarchy, the newly independent African nations, fell under the control of the Western financial institutions and their commodity conglomerates. Through their actual “debt-trap” and the imposition of the infamous structural adjustment programs, they controlled the economies of these nations, preventing them from achieving economic sovereignty. China’s emergence as a friend and investor in the last twenty-five years has brought a new potential for development.
The elimination of poverty and hunger in Africa, which is eminently feasible within a generation, requires:
Massive investments in hard infrastructure, particularly electricity and a high-speed transcontinental railroad system
Prioritizing the expansion of its miniscule manufacturing sector
Modernizing its agricultural sector with increased mechanization and the application of irrigation
Bringing into existence Industrialized economies
In my interview, we discussed in particular, Nigeria, the Democratic Republic of the Congo, Ethiopia, and China’s input. We also identified the failure of the foreign policy of the Wests’ rules-based order to understand the essential need of physical economic development for Africa.
Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in economic development policies for Africa for 35 years. He is a teacher, writer, public speaker, consultant on Africa, and an analyst of global strategic relations. Mr. Freeman strongly believes that economic development is an essential human right. He is the creator of the blog: lawrencefreemanafricaandtheworld.com, also publishes on: lawrencefreeman.substack.com, “Freeman’s Africa and the World, and on X@lkfreemansafrica
My presentation in the podcast above, was focused on the significance of Ethiopia’s completion of the Grand Renaissance Dam (GERD). I provide my reasoning that the GERD, which will be officially inaugurated in September, can be considered the most momentous accomplishment for Africa since the liberation from colonialism. The GERD, generating 5,150 megawatts, will be the largest hydro-electric dam in Africa, and one of the largest in the world. On a continent that is starving for electricity, the GERD stands out as a singular accomplishment by an emerging nation addressing its power deficit. This infrastructure marvel, self-funded by the Ethiopian people, up-ends the negative narrative about Africa. This massive, unique structure, generating much needed electricity, can help serve as a model for other nations.
The failure of Western governments, institutions, and media, to publicize this success by Ethiopia, speaks volumes. It exposes their failure to understand the invaluable economic worth of “infrastructure led development,” by an African nation.
It remains unclear how President Trump’s administration will respond to the announcement of the GERD’s completion. At times, in both of his
Presidencies, he has supported Egypt’s false narrative that alleges the GERD will reduce the flow of the Nile River to Egypt. The U.S. has significant financial and geopolitical interests in supporting Egypt in its allegations against Ethiopia’s GERD. Let us hope that President Trump has the vision to comprehend the multi-dimensional contributions of the GERD for Ethiopia and the entire African continent.
Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in economic development policies for Africa for 35 years. He is a teacher, writer, public speaker, consultant on Africa, and an analyst of global strategic relations. Mr. Freeman strongly believes that economic development is an essential human right. He is the creator of the blog: lawrencefreemanafricaandtheworld.com, also publishes on: lawrencefreeman.substack.com, “Freeman’s Africa and the World, and on X@lkfreemansafrica
Lawrence Freeman visiting Friendship Park in Addis Ababa on his first day in Ethiopia.
HORN REVIEW: IDEAS CONNECTIONS SYNERGY SIXTEENTH EDITION: Grand Narratives as Foundational Constructs of Ethiopia’s Foreign Policy
Lawrence Freeman is a distinguished researcher and analyst with over 30 years of experience specializing in the social, political, and economic dynamics of the African continent. Freeman has dedicated significant attention to Ethiopia, producing a wealth of insightful commentaries on the country’s evolving challenges and opportunities. Interview by Horn Review, was conducted during Mr. Freeman’s visit to Ethiopia (May 12-25, 2025)
“GERD, Agricultural Reforms and the Future of Regional Integration in the Horn of Africa”
Horn Review: Professor Freeman, welcome to our podcast. Great to have you here. Lawrence Freeman: Thank you very much.
Horn Review: From your perspective, how would you assess the trajectory of Ethiopia’s current agricultural reform agenda? Are the recent state-led initiatives showing signs of structural change? Lawrence Freeman: Yes, I would say that the progress being made by Ethiopia in agriculture is very significant. The government thinks they have already reached self-sufficiency on wheat in 2022/23, and they’re projecting they may be able to produce 30 million tons of wheat in 2025. Several things have taken place that have made it effective. One is they’re increasing the use of irrigation, which is necessary for modern farming. This has increased the number of hectares where they can grow crops. Second, Ethiopian farming was based on subsistence farming of one to two hectares, but now the concept is cluster farming, where groups of farmers come together, prepare the land, plant, plow, and use advanced machinery collectively. This collective strength has led to a huge increase in productivity and income per hectare, according to the agricultural department. These are some of the things Ethiopia is doing, and pretty much Ethiopia should no longer be importing any food from this point on. This is very important because Africa, for no good reason, was importing tens of billions of dollars of food across the continent, even though the land was perfectly capable and was self-sufficient in the 60s and 70s. Due to neoliberal economic policies, development stopped. Ethiopia is playing a very good role in promoting this kind of development. This has been one of the driving points of Prime Minister Abiy Ahmed. They have reduced levies on buying tractors and equipment and reduced taxes. The whole orientation of promoting agriculture is substantial and hopefully will continue.
Horn Review: How do you view the Grand Ethiopian Renaissance Dam as a strategic asset for agricultural transformation in Ethiopia? Do you see it meaningfully supporting irrigation and mechanization in the short or long term?
The magnifiant Grand Ethiopian Renaissance Dam, almost completed–May 2025
Lawrence Freeman: Since May 2025, almost everything has been completed; all 13 turbines and waterways have been constructed that bring water down to the turbines. They are now in the testing phase, with about six turbines operating and testing the remaining seven. The target for completion and inauguration is likely to be in September or earlier.
This is a huge plus for Ethiopia. The dam holds 74 billion cubic meters of water, which will essentially push water out to irrigate the entire area, as Ethiopia has numerous river systems. Although the water flow from the dam is not to be used for agriculture, but for hydroelectric power, the increase in water presence and moisture in the area will affect agriculture. Of course, there will be more electricity. The dam’s capability right now is about 2,600 megawatts, but it was reaching about 1,800 megawatts when I visited the GERD. Once you begin to utilize more of the 5,150 megawatts available, you start electrifying rural areas. When poor farmers in rural districts begin to have electricity, that changes everything. As you get more electricity to rural areas, you transform productivity, farming, and make every farmer and worker more productive.
Horn Review: Do you think the West recognizes the significance of Ethiopia building the largest hydroelectric dam on the continent? Lawrence Freeman: No, I don’t think there has been enough recognition by the West, certainly not by the United States or Europe. Ethiopia is building the largest hydroelectric dam on the continent and the 17th largest in the world. This is a real plus, which unfortunately the West ignores or doesn’t want to recognize at this point. Horn Review: What would you say is the effect of increasing energy production on Ethiopia’s food security and economy?
Lawrence Freeman:Electricity is the most important single ingredient to a successful economy. Infrastructure is essential. You need infrastructure that includes electricity, rail transportation, road transportation, and water management. All this creates the platform on which the entire physical economy rests. The denser and more advanced your infrastructure platform is, the more it raises productivity at all levels of the economy. For example, across Africa, 30 to 40% of food rots before it reaches the market; in Ethiopia, it’s about 30%. To correct that, you need infrastructure that gets food to market quickly, such as modern fast rail transportation and refrigerated cars to keep food from spoiling. This all requires electricity and roads. There’s no way to become an industrialized economy and lift all people out of poverty without infrastructure, and electricity is the key to infrastructure. With the completion of the dam and the addition of 5,150 megawatts, Ethiopia will become the second-largest electricity producer in sub-Saharan Africa, only behind South Africa, which has a nuclear power plant. That is significant, but not enough for 130 million people. Every part of society must be connected to electricity to achieve real independent sovereignty of development and reach its potential.
Lawrence Freeman looking at the GERD reservoir that holds 74 billion cubic meters of water
Horn Review: How might the electricity generated by the dam reshape rural economies and agribusiness within Ethiopia and the wider Horn of Africa region?
Lawrence Freeman: Ethiopia has already begun regional economic integration because electricity is now being exported to Djibouti, North Sudan, and Kenya. Before the end of the year, there will be transmission to Tanzania. Electricity from the dam is transported to Ethiopia’s grid and then through power lines to neighboring countries. Djibouti and Kenya want to increase imports of electicity. Ethiopia is already practicing regional integration with the African Free Trade Area. Ethiopia’s agricultural model, successful over five years, is something other countries should emulate. Development is the key to peace, security, raising living standards, and creativity. I have been coming here for 11 years and have seen impressive progress.
Horn Review: How do you assess the regional implications of Ethiopia’s agricultural and energy policies for neighboring countries such as Kenya, Sudan, Somalia, and Djibouti, especially in the context of transboundary water and food systems?
Lawrence Freeman: Water is a big issue in Africa. People think there’s always a danger of water wars, but there is a lot of water in Africa; the problem is it’s not always in the right place. We have to build appropriate canals and waterways to take water from where it is to where it’s needed. I saw this on some farms, where people are building waterways to bring water to crop areas. The Nile is the longest river in the world, but not the most voluminous. Ten countries in the Nile basin all use Nile water, which will not last forever. My view is we must move toward rapid nuclear-powered desalination to take salt out of Mediterranean seawater and build the equivalent of a second Nile. The idea of competition over the Nile is not the right way to look at it; it’s about development. Egyptians have adopted a British imperialist policy because Queen Victoria gave it to them in 1903; it’s their river. This is artificial. The first agreement was in 1929 between the British Sudan and Egypt, both under British control, which is British imperialism. The second agreement in 1959 was between Egypt and Sudan, no longer under British control, but with the same division of water. Ethiopia wasn’t at either conference. The water from the Blue Nile is not part of any agreement, but the colonial view is that they must have guarantees on the water from the Blue Nile. The dam has three mechanisms to maintain a continuous flow of water downstream, so downstream countries get a more regulated and concentrated flow from the reservoir.
Five of the thirteen waterways of the GERD that direct water from the reservoir to drive the turbines
Sudan is intimidated by Egypt, but it should align with Ethiopia they benefit from it. Egypt should give up this colonialist mentality. They never saw the Blue Nile basin as a development but as a water tank to be used in droughts to help Egyptian farmers. There is huge potential in the Blue Nile basin; three additional hydroelectric plants can be built. None would be as large as the GERD, but would add electricity. We are at the beginning of the process. The idea is to think in terms of development and countries working together for the development of the nations of the Nile. It’s a fate accompli; nothing can stop the dam, but a more enlightened mentality is needed.
This also relates to port access to the Red Sea, another important waterway. The 1993 agreement, after Eritrea separated, left the port of Assab, a natural port for Ethiopia, in southern Eritrea, but it’s not used. Eritreans can’t see the benefit of working with Ethiopia. Ethiopia’s economy is the biggest and fastest-growing in East Africa. Developing that port would bring revenue, commerce, trade, and millions of tons of freight. But antagonisms and shortsightedness prevent progress.
From a physical economist’s standpoint, a good leader must think 20 to 40 years ahead for future generations. It’s natural that an agreement on Assab would be worked out to fight poverty and hunger in the region. People don’t think this way. Hopefully, there will be a peaceful resolution for additional port access because Djibouti charges a lot for access. These are issues to be dealt with by thoughtful leaders for the benefit of their people to raise living standards. Once material standards rise and people live dignified lives, they can focus on developing creative minds. But you can’t get there without material existence.
Horn Review: In light of this, do you see viable frameworks for cooperation around the dam that could support regional food security and climate resilience, or are geopolitical tensions likely to overshadow such efforts?
Horn of Africa, which has huge potential for development (courtesy of hiiraan.com)
Lawrence Freeman: Much of what happens here is shaped by history. Ethiopia is the only country not conquered. I recently saw the museum that Prime Minister Abiy built, celebrating Adwa. My suggestion is that whatever day they inaugurate the dam, they add it as a national holiday, GERD Day, because it can unify the country. Unfortunately, there is a history involving British colonialism, Somalia, Italian colonialism, and Eritrea, which in various ways were manipulated. Somalia, and Somaliland were independent for about five or six days before forming the nation. Somaliland has been functioning almost independently for 30 years or more. This colonial legacy and antagonism prevent regional economic development.
Ethiopia, like all African countries, uses a tiny fraction of its arable land. There is potential for land and actual use of arable land, and an even tinier fraction is irrigated. Ethiopia has just started irrigation, which is excellent. This concept can be used in all African countries. One of my missions is to end poverty and hunger in Africa. Many still live in poverty with very low income per capita. This must change. You can’t do that unless you produce more wealth and put more people to work. The transformation plan and home-grown economic reform of the Prime Minister emphasize manufacturing.
Africa has been prevented from producing real manufacturing industries. Less than 3% of total manufactured goods in the world come from Africa. Ethiopia is working on light industry, leather, and adding value to agricultural products like coffee, the biggest export. Building up manufacturing, next to infrastructure, is an essential part of an economy.
The fundamental issue is that the constitution has to be changed. Everyone knows that, but you need a robust, maybe contentious, discussion, debate, and dialogue with the people of Ethiopia. You have to attack the notion of national ethnic identity, not ethnic culture, but ethnic identity. What must be reinforced is that Ethiopia is a nation-state and its people are citizens of a nation-state, not members of a national ethnicity. Ethnic nationalism is the enemy and is deeply ingrained. There is no congruence between ethnic nationalism and citizenship. People should not give up their rich history, but must see themselves as members of a nation.
Lawrence Freeman, studying the victorious Battle of Adwa that helped shape the identity of Ethiopia
Horn Review: That’s a profound idea. How should international partners engage with Ethiopia’s dual push for food self-sufficiency and energy leadership, given the sensitivity surrounding the dam and regional politics?
Lawrence Freeman: The international community doesn’t understand economic development or Ethiopia. There are many NGOs and international organizations, some being dismantled by the US, but they don’t focus on questions that would change society. If you want to improve life, bring democracy, and good governance, you must put electricity at the top of the list. Without electricity, people don’t develop. Good governance over poverty is meaningless. The West must change its thinking. Look at why Western leaders haven’t complimented Ethiopia on the GERD, the largest hydroelectric dam built without money from World Bank or IMF. Why haven’t presidents visited the GERD? The West is ideologically deficient and prejudiced against development, so they’re not good partners now. This will change because China is outproducing the US in many economic sectors, and the US is contracting its manufacturing base.
The West’s ideology is collapsing, and China and BRICS are growing. Ethiopia is one of three African countries in BRICS. The Global South is forming new political and economic relations based on a new paradigm of development and growth. Hopefully, enlightened leaders in Africa, Latin America, and others will recognize that the world is no longer fixed in a hierarchy. The West must change and recognize that Africa needs long-term, low-interest credit for infrastructure to build hydroelectric and nuclear power plants. Infrastructure itself may not make money, but it raises the economy’s profitability. We should unite with China to help African nations build infrastructure to eliminate poverty and hunger. The West should work with Africa in critical transformational areas.
Garment factory in Ethiopia. Many tens of thousands of Ethiopians employed in the garment industry
Horn Review: From a regional integration perspective, what role could Ethiopia’s emerging industrial base, especially agro-processing and light manufacturing, play in reshaping trade and economic interdependence in Africa?
Lawrence Freeman: Ethiopia’s major export is coffee, which can have added value. Ethiopia is self-sufficient in wheat and can start exporting wheat for foreign exchange. Africa wastes foreign exchange on buying agricultural products and importing food. Ethiopia is close to eliminating this system. Ethiopia has 165 million livestock, the largest in Africa, which supports the leather industry. Ethiopia plans to build steel plants. Ethiopia needs national industries like steel, aluminum, and cement to avoid buying from other countries on their terms.
The West controls the terms of trade. Producing your own goods increases revenue. Tourism is important, but service and tourism make up 40% of GDP, which is not ideal because service and tourism bring revenue but not wealth. Manufacturing, agriculture, and mining should be emphasized. Gold is a big revenue source now. Ethiopia should focus on industry. Ethiopia’s leaders understand this. I’ve worked with many African countries that don’t grasp this economic concept. Ethiopia understands this. There are problems, but progress exists. Maybe it’s not fast enough or comprehensive, but it’s a basis for optimism.
Use of mechanized agriculture improves productivity for Ethiopia’s farmers
Horn Review: Ethiopia is also investing heavily in urban infrastructure and industrial parks. How do you assess the role of urban development in facilitating structural transformation, labor mobility, and regional economic competitiveness?
Lawrence Freeman: I toured Addis Ababa with the mayor’s office and have watched the city change since 2014. It’s almost unrecognizable. Policies include clearing polluted rivers, new walkways, and tree planting. Trees are the best way to improve the environment. Trees are important because they absorb CO2 and produce oxygen. Photosynthesis changes climate through transpiration how much water comes up and down. To change deserts; plant trees. Ethiopia has planted 40 billion seedlings, with 10 billion more to go, which is very positive. People displaced from less developed areas along waterways have not been thrown out but resettled with housing, food, and small manufacturing plots like bakeries. This is positive.
The changes in Addis Ababa, farming, and manufacturing are slow but in the right direction. Ethiopia has 130 million people to employ, which is hard, but this is the direction. There are detractors of Prime Minister Abiy, but I follow his policies carefully. I don’t analyze every political nuance but look at substantial results, which are palatable. This should be encouraged and supported. Criticisms are fine if made in good faith to move the country forward. If you want to criticize, propose better policies. Otherwise, keep quiet and let economic development proceed.
Horn Review: Professor Freeman, we’ve had a very insightful discussion. You have enlightened us, and thank you once again for coming on our podcast. Lawrence Freeman: My pleasure. Happy to do it. (all emphasis added)
Read thye current issue of Horn Review below. My interview begins on page 8.
͏Lawrence Freeman is a Political-Economic Analyst for Africa, who has been involved in economic development policies for Africa for 35 years. He is a teacher, writer, public speaker, consultant on Africa, and an analyst of global strategic relations. Mr. Freeman strongly believes that economic development is an essential human right. He is the creator of the blog: lawrencefreemanafricaandtheworld.com, also publishes on: lawrencefreeman.substack.com, “Freeman’s Africa and the World, and on X@lkfreemansafrica
