President of Botswana going viral for reaction to 2nd largest diamond

Scustin Bieburr

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botswana-presidents-reaction-on-2nd-world-biggest-diamond-v0-23zcjvbrnlkd1.jpeg

botswana-presidents-reaction-on-2nd-world-biggest-diamond-v0-pmpqom9tvmkd1.jpeg
 

Scustin Bieburr

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Canadian mining company found it :sadcam:
How does that work
Globalization.

If you are willing to sell your land to a foreign country's business to exploit, whatever wealth they gain doesn't go back to you. This is part of the reason that socialism is HATED by liberals and conservatives here and part of why America went insane over 70 years doing its best to prevent socialist movements from taking hold in any country with valuable resources its companies were exploiting. Cuba is a good example because it produces quality sugar and vegetables. American companies were raking in billions(in todays money) from Cuba because the leadership in that country was getting a cut while everyone else suffered. It's part of the reason why to this day there is still an embargo in Cuba. They still refuse to let American companies come in and make money that Cubans won't see.

When a country goes socialist, one of the first things it does is kick out all multinationals and nationalize the resources. If the government owns the mines, fields, rivers, etc. that can be exploited, they can demand the lions share of the profits if a multinational comes in to try and extract those resources, or it refuses to let them in and instead allows local(worker owned and unionized) businesses to extract those resources and sell to foreigners. The government taxes the sales and gets their cut, then uses that tax money on programs meant for citizens.

Big business is extremely hostile to any form of government that will prioritize workers over management. They will fight tooth and nail and use any means necessary to prevent workers getting more money and other countries charging a high premium for the value extracted from their own lands. It's part of the reason they're mad as hell right now at the West African countries that are kicking out foreign businesses and governments.
 

Gloxina

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Globalization.

If you are willing to sell your land to a foreign country's business to exploit, whatever wealth they gain doesn't go back to you. This is part of the reason that socialism is HATED by liberals and conservatives here and part of why America went insane over 70 years doing its best to prevent socialist movements from taking hold in any country with valuable resources its companies were exploiting. Cuba is a good example because it produces quality sugar and vegetables. American companies were raking in billions(in todays money) from Cuba because the leadership in that country was getting a cut while everyone else suffered. It's part of the reason why to this day there is still an embargo in Cuba. They still refuse to let American companies come in and make money that Cubans won't see.

When a country goes socialist, one of the first things it does is kick out all multinationals and nationalize the resources. If the government owns the mines, fields, rivers, etc. that can be exploited, they can demand the lions share of the profits if a multinational comes in to try and extract those resources, or it refuses to let them in and instead allows local(worker owned and unionized) businesses to extract those resources and sell to foreigners. The government taxes the sales and gets their cut, then uses that tax money on programs meant for citizens.

Big business is extremely hostile to any form of government that will prioritize workers over management. They will fight tooth and nail and use any means necessary to prevent workers getting more money and other countries charging a high premium for the value extracted from their own lands. It's part of the reason they're mad as hell right now at the West African countries that are kicking out foreign businesses and governments.
No- I get all that.



I meant since they allowed the Canadian company to mine, do they completely forfeit the rights to whatever is found/produced or is this somewhat of a partnership and they still get a percentage?
 

klientel

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People like to think Africa is poor, but it is the probably the most naturally rich continent on earth:wow:
Africa is poor though

Majority of the poorest countries in the world are in Africa and it’s the overall poorest continent as well. They have lots of resources but generally don’t benefit from that
 
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