An address.

Abstract

States that African poverty and underdevelopment are related to wealth and technical advances elsewhere. Commodity and manufactured goods prices are fixed in America and Europe. The interest on debts is a transfer from poor to rich. Foreign exchange terms are unbalanced, costs go up and prices do not. Foreign direct investment goes where profits are to be made. The social price of accepting IMF terms is very high. Africans can only respond by acting together. -C.Wilson