| Quote: |
| Zimbabwe will grab foreign firms
Sydney Morning Herald September 27, 2007 - 3:01PM Zimbabwe's parliament has passed a bill giving local owners majority control of foreign-owned companies including mines and banks, threatening to drive the fragile economy deeper into crisis. President Robert Mugabe's ZANU-PF party, which enjoys a majority in parliament, pushed through the legislation today after members of the main opposition Movement for Democratic Change (MDC) walked out in protest. Mugabe's government - which critics accuse of plunging Zimbabwe into turmoil by seizing white-owned farms and handing them to inexperienced black farmers - says the bill is part of its drive to empower the country's poor majority. "We cannot continue to have a skewed economic environment where our people are not able to fully participate," Paul Mangwana, the Indigenisation and Economic Empowerment Minister told parliament during the debate. Analysts fear the move could sound the death knell for an economy in recession and which has been hit by foreign investor flight over fears about the security of their investment. Zimbabwe is grappling with the world's highest inflation rate of more than 6,600 per cent, shortages of foreign exchange, fuel and food and rocketing unemployment that has left many people unable to buy even basic foodstuffs. |
Link to the full article.
http://www.smh.com.au/news/world/zimbabwe-will-grab-foreign-firms/2007/09/27/1190486463175.html
What is wrong with this picture?
I just don't get it.
They threw out the white government around thirty years ago.
The economy collapsed.
Then they gave the white farmers farms to the locals.
The economy collapsed more.
Now they are stealing the assets of foreign companies and giving them to the locals.
The final collapse.
I knew a guy 20 years ago who fled Zimbabwe because he couldn't even buy tyres for his car in the country. He had to drive to South Africa to buy them.
He was an engineer with the national airline. A very intelligent and educated person.
He took his wife and children to Australia over 20 years ago.
What amazes me is that after 30 years or more of self rule the Zimbabwe government still seems to think that all their economic problems are because of the whites in the country.
When it was called Rhodesia it was one of the wealthiest countries in Africa, under white rule.
Since then everyone has either fled or is starving.
What the **** is going on? Does the Zimbabwe government hate it's own people?
).. its is developing nuclear power, it has more freedoms that any other midEastern nation, it has a Jewish MP, and much much more.
