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Opinion

Foreign Investment Is Decoy -By Tife Owolabi

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China today, is ranked among the developed nation through a bespoke approach tailored toward development. They built technology to serve their people first before exporting and earning foreign monies. A 50 years agenda was set apart. China is not practicing democracy but an authoritarian system. There are no freely elected national leaders, political opposition is suppressed, all religious activity is controlled by the CCP, dissent is not permitted and civil rights are curtailed.

If your candidate talks about foreign investment or investors coming to develop your country understand , he doesn’t mean well to you and the generation unborn.

Foreign Investments are with the sole aim of profits, not development. In the case of profit or repatriation of surplus value, the primary concern is that firms will not reinvest profits back into the host country. This leads to large capital outflows from the host country . So, citizens and the development of local industries bear development.

For instance, since the IOCs came into Nigeria how much development have they brought? Today, having made a mess out of our resources and people they’re selling off their assets and running away without addressing the damage done to the livelihood of our people and the environments.

No foreign investors developed China. It was a deliberate and assertive effort of transformational leadership. Lee Kuan Yew didn’t birth a new Singapore from the third world to the first world with foreign investment.

China today, is ranked among the developed nation through a bespoke approach tailored toward development. They built technology to serve their people first before exporting and earning foreign monies. A 50 years agenda was set apart. China is not practicing democracy but an authoritarian system. There are no freely elected national leaders, political opposition is suppressed, all religious activity is controlled by the CCP, dissent is not permitted and civil rights are curtailed. Elections in China occur under a single-party authoritarian political system. But they have developed and the West can’t teleguide them from anymore.

Lastly, no foreign investor transfers technology because you can’t teach your enemies how to make an atomic bomb. S/he will eventually use it against you. Foreign investment makes you cap in hand with the source .

Tife Owolabi
Journalist
Niger Delta
@tifeowolabi

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