By admin on Oct 25, 2008 | In International Chatter
Editorial by George Bamu
If we can forget about the doom and gloom created by the world financial crisis for a moment and look at history, economists will tell us that the crash of the stock market and fears of a recession or depression is nothing
new. By the way, some of us can barely remember the crash of 1987 when the stock market lost as much as 45% of its value in markets around the world.
In 2008, the only thing that appears new is that it is being witnessed by a whole new generation that was not here in 1987 or as happened in 1929 during the great depression. In both cases, the world did not come to and end.
For me, I remain optimistic and yet hopeful except my concerns are less with the future of the United Sates and more on the future of Africa.
America, they say, can weather this crisis and soon it will become a story for the history books. On the other hand, we still have a continent that many of us love. Though far away, Africa remains intertwined within the fabric of the global community. What impact is this crisis having on Africa as a whole?
Will the USA keep its commitments to Africa under the Millennium Challenge Corporation agreements? Will the USA hold its pledge for a $48 Billion increase in AIDS treatment to Africa under the presidents Emergency Plan for Aids Relief (PEPFAR)? Will the G8 nations hold to their commitment in 2005 to double aid to Africa to $25 billion a year by 2010? Are we going to remain hold up in our homes and not discuss the implications of this crisis towards Africa? Are we all going to stop sending money back home? Do we sit back here and weep that things are going badly?
Or do we rethink new ways about how we can help Africa
deal with these problems?
I'd like to hear what you think.
|« THE GREAT BAIL OUT OR RECOVERY by Helen L. Burleson||Surrendered State of Consciousness »|