Make Poverty History's attack on business
Posted on 22 January 2006
Last week Hilary Benn gave a speech criticising the anti-business positions of campaigns like Make Poverty History. So how did Make Poverty History respond? It stuck its fingers in its ears and sent an e-mail out moaning about how "multinational corporations that trade around the world cause harm to communities, damage the environment and violate the rights of working people". The e-mail also advertised its new campaign against business.
Here at the GI we are sometimes critical of particular industries, when they lobby for special favours and corporate welfare. But I fear while that our skepticism of business relates to a very small handful of cases, their skepticism is overarching. The simple truth is that Africa is not poor because of too much inward investment, but because of too little. During the 90s, 81% of US foreign investment went to Canada, Western Europe and Japan. While everyone wants to do business with the rising stars of the global economy, like India and China, relatively few want to do business with Africa.
The World Bank has been doing good work highlighting business opportunities in Africa, trying to increase investment and improve quality of life. Make Poverty History's new campaign against business is disappointing. All it will achieve is to discourage business from investing in Africa. If it has any success, it will be a tragedy for Africa's poor.