colonialism/globalism

[Teufelsdröckh]

An interesting article is in the current Business Week about the
changing dynamics (or the effort to change the effects) of the oil industry:

<http://www.businessweek.com/magazine/content/01_15/b3727010.htm>

The situation is that Exxon wanted to get Chad's oil, but because of the
scrutiny they would be subject to in enriching a dictator while stealing
his people's resources they got the World Bank to do the financing. Then
the World Bank would have the clout to ensure that the money goes to
real development for the people.

The hope was to avoid the "all-too-common script in which global
projects that pledge to create wealth in developing countries merely
enrich an entrenched, undemocratic elite." Anyway, it turns out to be a
very difficult thing to do.

"The Chad pipeline could yet prove a turning point in Africa's story --
or turn into a sad symbol of globalization's failed promise."