67 m. ago The Guardian view on Zambia’s Trumpian predicament: US aid cuts are dwarfed by a far bigger heist | Editorial

As the US decries corruption, a paper suggests the real scandal is multinationals legally extracting billions from Africa’s resource-rich nationDonald Trump’s decision to cut $50m a year in aid to Zambia – one of the world’s poorest nations – is dreadful, and the reason given, corruption, rings hollow. There is evidence of large-scale looting, but the real scandal is that the theft appears legal, systemic and driven by foreign interests. In a paper presented to the Association for Heterodox Economics conference in London later this month, Andrew Fischer of Erasmus University Rotterdam argues that Zambia’s economy is not being plundered by domestic actors but rather by transnational corporate practices enabled by opaque accounting. His findings point to a staggering extraction of wealth that dwarfs the value of the aid intended to help.Zambia is blessed – or perhaps cursed – with mineral wealth. It is Africa’s second-largest copper producer. The metal, key to the green...

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