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THE WORLD ECONOMIC CRISIS; REMOTE AND IMMEDIATE CAUSES: A REMINDER TO G-8 LEADERS.

By: Professor Dr. Emmanuel Omoh Esiemokhai

 Published June 27th, 2010


Evidently, there has been a dismal patch in the world economy. Undying efforts have been made and are still being made by “world problem solvers” to no avail. Protestations by European citizens have become rife and are widening.

Amidst these interlocking circles of misery, it is ludicrous that G8 nations do not seem to understand that they ought to undertake serious trade negotiations and economic developmental strategies with African states instead of restricting their discussions with Africa, to morbid subjects like the eradication of malaria, aids and polio. These are partly due to poor economic conditions prevalent in under-developed states.

Massive investments in Africa, which lead to prosperity, would enable African governments to clean up their societies and not wait for wild, hope-raising promises at G8 meetings that are never meant to honoured.

In order to understand the background to the current economic problems, it is necessary to examine some historical facts that help to explain the material and spiritual dimensions of the crisis.

In his famous book entitled “DAS KAPITAL” Dr. Karl Marx dutifully analysed the philosophical and economic underpinnings of capitalism and capitalist cartels in capitalist societies. He had a faithful intellectual collaborator in Frederick Engels.

Both Marx and Engels described capitalism as “an exploitative economic system”. Some contemporary problems in the world economy seem to vindicate the findings of Karl Marx and Frederick Engels that the dominance by capital will weaken as soon as the exploited states of Africa, Latin America and Asia gained independence and piloted their own economies

It is important to remember that Portugal, Spain, Holland, Italy, France, England , politically and economically exploited Africa, Asia and Latin American nations between the 15th and the 19th centuries

During this period, the colonialists enriched their nations by monopolizing the foreign trade of their colonial territories.

In order to maximize their profits, the natives in those enclaves were made to work strenuously in mines, plantations and in the fields. Where the colonial powers met with justified resistance, they brutally suppressed the uprisings, captured their leaders and banished them to remote out-of-the way places.

These were the gory experiences of Jomo Kenyatta, Dedan Kemathi, and Dr. Nelson Mandela, etc. Some Nigerian miners protested in 1949 at Enugu. They were demanding a salary increase but twenty-one of them were shot on the spot, while others died later.

Many people in the colonies were sold into slavery, where they were made to do physically demanding tasks. After the Great Geographical Discoveries from the 15th century to the 16th century, Spanish invaders sacked countries in Central and South America, e.g Peru, Mexico and the Incas, etc.

Thousands of those, who resisted colonial rule, were killed by the Colonial Powers. Portugal colonized strategic regions along the sea-routes to Arabia, Iran, Africa and India. She captured the route through the Malayan peninsula to China and Japan. Portuguese colonial policies were a catalogue of systemic execution of people in its colonies.

Although Spain and Portugal extracted wealth from their colonies, the wealth did not advance Portuguese capitalist economic relations as the wealth was concentrated in the hands of feudal lords, the Royal family and the Catholic Church. The wealth Holland accumulated was not used to develop the nation but for social festivities and the purchase of luxury goods from France, England and Italy.

When the elites of England and the Netherlands saw the extravagant life-styles of Colonialist Powers, they too, entered the struggle to colonize the nations in Asia, Africa and Latin America.

Holland, in the first half of the 17th century, captured Portuguese maritime routes in Africa and Asia. In 1603, Holland became a maritime power in Java, and by 1641 had established its power in the Malaysian peninsular. In 1658, they drove away the Portuguese from Ceylon (Sri Lanka). The colonial exploits of Holland did not have much impact in North and South Africa.

The Dutch used their territories for slave-trading and as a platform to attack Spanish territories in those parts of the world.

Great Britain (as she was then), after the Anglo-Dutch wars of the Second half of the 17th century became the most advanced colonial power as a result of the bourgeois revolutions, which activated the development of manufacturing industries. Since the colonies were outposts and outlets for manufactured goods, prosperity blossomed in Western nations.

This well-being encouraged Britain to “rule the waves.” As a result, Britain expanded territorially, not only at the expense of France, but at the expense of other allies including Germany, which lost Cameroun and Tanganyika. Colonial Britain relieved the Dutch of Ceylon (Sri Lanka) in 1795 and later conquered Malaysia, Singapore and temporarily occupied Dutch territory in Java, while pushing to colonize Australia.

Colonialism distorted the historical process of development of the victims of colonialism world-wide. It achieved this by imposing foreign languages, alien counterfeit culture upon the indigenous people.

At the beginning of the 19th century, industrial capitalism heralded the era of acute exploitation through the use of industrial capital. Most Colonies were turned into lucrative markets for manufactured goods. The colonies were inexorably drawn into unequal exchange in that the colonialists’ centers of manipulation and control dictated the prices of finished goods as well as put under-value prices on raw materials from the colonies.

This inequality in the international division of labour sentenced local producers to an unenviable life of remaining in debt peonage and liquidation.

Another method of economic exploitation was the introduction and retention of old forms of extortion through taxation without representation, monopoly of foreign trade and war booties.

During the period of industrial capitalism, the colonialists directed their aggression to new lands. Towards 1856, the British attacked India and Lower Burma.

With the support of France and America, Britain waged the so-called opium war against China from 1839-1842. This had the effect of turning China into a colony. The Nanking Treaty was an unequal treaty, which took away Chinese Hong Kong, Taiwan and Macau. Later the Germans annexed the Shandong Port City, Qingdao. The Nanjing massacre by Japanese soldiers remains incredible.

I lived in China for years teaching International Law, at Shandong University, at Qingdao, from 2005-2008. I learnt a lot about colonialist methods and attributes in China.

British colonialist carried out aggression against Afghanistan (1838-1842), Iran (1856-1857) and captured strategic points on the Arabian Peninsula. The British divided Iraq and carved out oil rich Kuwait as a subservient fiefdom.

From this historical survey of capitalist states oppressive sway over nations and peoples, there appears to be a correlation between the Taliban, Chinese, Iranian attitudes to the West, in the 21st century.

Since most former colonial states gained their independence, very little effort at integration with the world economy was advanced. The exploitative system was being well preserved, until an economic revolution from the Southern hemisphere smashed the status quo.

Chinweizu and Walter Rodney have written eye-opening treatises on how the Western nations engaged in the economic exploitation of the developing world. To their documented evidence, I refer all avid readers to “The West and the Rest of US” and “How Europe Underdeveloped Africa”

Most importantly, the rise of China, Malaysia, Singapore, Vietnam, Korea, Japan, Germany and the far-reaching decolonization of Latin American and African states between 1960 and the present, considerably weakened the economic prosperity of the Old Colonial Powers. The World has become more competitive; people have become better educated, rebellious, aware, enlightened, progressive, more humane and a little bit more civilized.

As a result, wickedness as practiced for over five centuries by the people from the UNIVERSE OF FALLEN ANGELS has mellowed a lot.

The economies of Western nations, which thrived on exploitation of the human and material resources of non-Caucasian people, have been hit by crises. For America to be owing China colossal sums of money and are pleading for a free movement of the YUAN, suggests a reversal of fortunes.

There are three Universal Laws that operate on Planet Earth. There must be GOD acceptance, humanism, and love. Five hundred years of Man’s inhumanity to Man, exploitation, discrimination, wars, war booties, slavery, colonialism, imperialism and other brutalities by the agents of the Luciferian Hierarchy in modern societies, signal that world economies will collapse, man-made scientific creations like atomic, nuclear, thermo-nuclear, neutron-bombs will soon detonate due to inadvertence, with catastrophic consequences to the whole world.

If ordinary volcanoes can pour out molten ash that could disrupt the aviation industry, have our unintelligent politicians with strong links to the centers of arms and nuclear manufacturers thought about a HAYWARD kind of man glibly justifying the blow-out of a nuclear facility . The BHOPAL and CHERNOBLE experiences must be constant reminders that anything can happen.

BOSAS INTERNATIONAL LAW BUREAU, Abuja, Nigeria, has commissioned scientific inquiry into the durability of nuclear arsenals around the world. The IAEA in Vienna reports suggest that developed states with nuclear weapons have the resources to maintain their arsenal but Pakistan, under the double impact of terrorist fervor and a moribund economy may not have the resources to re-charge its nuclear capacity.

North Korea and Iran, which have been driven by the “axis of evil” speech by George W. Bush to engage in nuclear production.

The economies of the former East European socialist states are in the doldrums.Persuaded by the West to work towards the dissolution of the Soviet Union and embrace capitalism, they have now discovered that there is no magical conjuration to wave capitalism into being, merely by good wishes.

There has been an exodus by the specialists in Eastern European states to the West, where they have discovered that human interests often remain divergent. These specialists return home, disappointed and frustrate

Suddenly, they begin to be buoyed by nationalist feelings leading to strives, internal contradictions and civil wars as we are witnessing in some former East European Socialist states like Kirgizia.

The economies of these states depend, to a large extent, on renting their territories to foreign powers and borrowings for the World Bank and international financial markets. If there is doubt about the ability of Greece, Spain and other Western states to pay back their loans, it will not be long before banks begin to close their doors to East European states.

Karl Marx had predicted that any crises in the capitalist economic system will envelope the whole of Europe.

What is the way out for Euro-American states? They should

Invest massively in African states; remove their superiority consciousness, discriminatory practices, arrogance and predatory instincts.

We can turn the Sahara desert into the green belt it was thousands of years ago. Those nations whose territories are disaster-prone can lease overseas territories and move some of their citizens there, in the spirit of ONE WORLD.

Wall Street and the City of London speculators, the World Bank and IMF experts cannot say exactly what is wrong with the capitalist system of economy because they look at statistics that cannot be verified by independent sources.

Their claim to “GURUISM” has been accepted for too long and cannot be challenged with success. Yet, there are things they are not saying loud enough for us to hear.

They should point out that the states of Africa can no longer be exploited with crass abandon There is a lot that the West can gained from mutually beneficial economic relations with Africa. The Western scandal-loving press should not concentrate on negative reports that tickle the instincts of Euro-American citizens. These negative reports do not create the knowledge awareness of the prospects of economic opportunities in African states until the Chinese moved in.

Western culture seems to be in degeneration as weird, hip hop music, scandals reporting, comedians of all sorts, beauty queens and talk- show hosts, promote mass culture hits.

I was surprised and amazed recently when Larry King interviewed and replayed the programme, where he seemed to enjoy the perversion which Kathy Griffin is an embodiment of. The impact of her rattling about obscenities and eccentricities could be telling and lasting on infant Americans and young watchers around the world.

Larry King inundates our sensitivities with the confessions of drug addicts, burnt-out actors and actresses polluting the air-waves and hurting our senses of decency by their outrageous musings, all in the name of free-speech. Jane Velez-Mitchell and Mackenzie Philips are crackpots and social misfits and drunks like Stefanie Wilder-Taylor, Tom Arnold extol the virtues of being high on cocaine. Is the decline in morality not a pointer to the quality of people we shall be dealing with in twenty years time? Is this degeneracy not the immediate cause of our economic decline since some of the economic decisions made in ornate Executive offices are taken after the bottle is empty?

Perhaps, we are witnessing the activities of the Agents of the Anti-Christ, whose mission is to corrupt the morals of the human race, through sexualizing the race, encouraging wars, wickedness of heart, which leads to terror acts, now prevalent in modern societies.

If we can feel so bad about the oil spill, the pollution of the morals of Sons and Daughters of GOD should be equally condemned. Apostasy, in the modern world has taken on a wider meaning. Apart from doing and saying heretical things against the Holy Trinity, it has broadened into the use of television, radio and newspapers to promote sexualism in obscene and disgusting ways.

These are the End-Times and Leaders of societies will be held to account for the corrupted souls of the Children of GOD, THE FATHER. The crises that have beset the world are karmic results of the EVILS that have turned the world upside down and inside out.

The present plight of nations is caused by lazy individuals, who, incapable of innovative and inventive genius, join political parties in order to be appointed ministers. Many are in politics, not for altruistic reasons, but for profit.

I watched with dismay the ranting of an American law-maker, who appeared on Larry King LIVE to disparage Mr. Kevin Costner for meeting with Hugo Chavez. After listening to his diatribe, I could not but agree with the former Governor, who was on the programme, who had said that the man was ignorant. The legislator blamed Chavez for the cocaine Americans consume. He claimed that such a meeting with Chavez was un-American, reminiscent of the Joe McCarthy politics of name-calling, demonization and hatred. This type of politics has been responsible for the lack of trade and diplomatic relations with Cuba, North Korea, Iran and other “rouge states”.

There are many other political idiots in other climes, who, spread hatred amongst nations through preaching irreverent messages of disdain, denigration and arrogance. They profanely base their declarations on questionable logic, delivered in accusatory tones and self-righteous proclamations.

It is clear to me that no state owns the world and that the MIGHTY CREATOR of the Universe is alive and in control. The kingdoms that lorded it over others from Genghis Khan, Alexander the “Great, “and the bullying empires have come to naught.

It is universally acknowledged by reasonableness that THE CREATOR of THE UNIVERSE has never dimmed it fit to appoint any man or woman to be His care-taker on earth because their brains are puny, their time on earth short and their knowledge is limited to material life. Also, from Man’s ruthless behaviour towards his fellow human beings, were he or she to have been appointed care-taker of the world, he or she would stop the air, the waters of the sea and destroy all life as a mark of his wickedness and folly.

Those leaders in transient, political power, who had tried to usurp GOD’S authority on earth, have often faced occasional degradation. Their regimes were either overthrown or their term of office would end.

They become expired politicians, with wrinkles and gray hairs to show for it. Jetting from one political event to another, they pontificate on what should be done, now that they have become “wiser and humbler”.

Politicians owe their people economic well-being and good life on earth.

Unfortunately, some politicians corruptly enrich themselves at the expense of the state.. Through administrative fiats and legislative props, they racket the economy. A new, strict regime against political, economic and cultural corruption must be put in place otherwise, the “small people” (BP Chairman) will rise up and overthrow the Kingdoms of satan.

Had the Kingdom of satan not been overthrown in South Africa, the Rainbow State would not have gathered resources to entertain the World in June 2010.

In this Era of the Gentles, Atonement and the Brotherhood of Man, cooperation on the basis of mutuality is the way to economic recovery.

Professor Dr. Emmanuel Omoh Esiemokhai is the President of the proposed AFEMAI UNIVERSITY, FUGAR, Edo State, Nigeria
 



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