Years ago I would have scoffed at this thread. Upon further reflection the OP is right.

The problem though is that there are parties with a stake in maintaining the continent's reliance on the global economy.

They will use any means to keep the machine running.

For instance, Europe and China are tussling over Africa's resources and have used debt, fiat currency, infrastructural "aid" and military force to maintain it.

African leaders are handicapped by their corrupt addiction to cash revenues and thus need the aid money. They also want the infrastructural glam that shows their involvement in the global rat race but think they lack the manpower to do so. Hence China.
We are in too deep at this point.

The investment from government required to make Nigeria industrial is significantly larger than what was needed in 1807, complete rehabilitation and of our roadways, electricity enough to cover industrial consumption etc. Nigeria can certainly make importation heavily unpopular, it is the plan(a ways short of isolation ) but we are not ready just yet, still have infrastructure and electricity to sort out.

^^ that's not even the problem, the problem is how many African countries are going to follow?

I Mean that's not the mean problem

Look at the DR Congo situation?

nnenna.1:
Years ago I would have scoffed at this thread. Upon further reflection the OP is right.

The problem though is that there are parties with a stake in maintaining the continent's reliance on the global economy.

They will use any means to keep the machine running.

For instance, Europe and China are tussling over Africa's resources and have used debt, fiat currency, infrastructural "aid" and military force to maintain it.

African leaders are handicapped by their corrupt addiction to cash revenues and thus need the aid money. They also want the infrastructural glam that shows their involvement in the global rat race but think they lack the manpower to do so. Hence China.
We are in too deep at this point.

Thanks for that, what many people don't realize is that the rest of the world needs globalization, but we dont.

If isolationism cannot succeed any where else in the world it can in Africa. There is no other continent that has everything it needs for development within its borders.

The middle east cannot leave globalism because it would run out of food, China cant leave because it would run out of minerals, Europe cannot leave because they would run out of oil. But Africa has all those things, and there is nothing the world can give us that our brains cannot create ourselves!

^ China would not run out of minerals

If not minerals, coal, oil or w/e

https://www.nairaland.com/1315575/free-market-economics-why-naija#16100314

The discussion continues here!!!!

Wonders shall never end!
When countries that owned communism such as Russia and China have finally accepted that no single country has everything it needs to develop within their border and they have embraced word trade to improve the lives of their citizens,this mumu is clamoring for isolation and communism.
[size=20pt]Some people simply deserve to be shot![/size]

cjrane: Wonders shall never end!
When countries that owned communism such as Russia and China have finally accepted that no single country has everything it needs to develop within their border and they have embraced word trade to improve the lives of their citizens,this mumu is clamoring for isolation and communism.
[size=20pt]Some people simply deserve to be shot![/size]

really?

Well check out this thread: https://www.nairaland.com/1315575/free-market-economics-why-naija#16100314

And explain to me how exactly western capitalism is working any better for africa

pleep:
It is time Africa embraced isolationism. The way I see it, this is the only good economic system for African countries.

The goal must be to stop all importation, and lessen our focus on exportation so that we can separate ourselves from the world economy. When everything we use is created at home we will have jobs for all our people. Over-dependence on importation is the main cause of the widespread poverty on the continent. We get everything from foreign countries, Africa is the dumping ground for the worlds crap, clothing and plastics from Asia, cars and electronics from Europe & America.

We will never make it in the global economy, even if we become G-20 the magority of Nigerians will still be poor. Economic growth means nothing if people are unemployed. Globalism is like a pyramid, the 3rd world forms the base. Leaving the global economy is the only way we get get real improvement in Nigerians quality of life.

This is wisdom. Forget the eugenics nonsense.

kjhova:
Pro @OP & against, check this out.

Capitalism, Socialism, Isolationism or Globalism or any other -ism for that matter is irrelevant. Africa & Nigeria's problems are corruption, misrule, ignorance, laziness & barbarism. Whatever approach we adopt, only discipline, hard work & commitment can see us through.

The USA made it thru isolation & protection till the late 19th century but Singapore & South East Asia made it thru opening there doors to the industrialized nations. The only universal streak to all success stories is sincerity & hard work. Anything else is dogma.

word

Africa must either learn to swim on its own or sink. Right now we are sinking and getting heavier gulping foreign goods and services hoping they will deliver us.

How can the same foreign opium used to exploit you deliver you?

Go cold turkey or sink forever. The foreign cronies have been preaching the same solutions for ever.

Hehe

The over dependence on imports satiates our short term wants, but it is immensely inimical to long term, sustainable development.

Some imports are unavoidable. But our reckless obsession with importing everything under the sun is ruinous.

I went into a new supermarket in Ikeja GRA last week. I was left in shock. By my estimate, more than 80% (that could be an underestimation) of the goods there are imports. Not even one of the biscuits was manufactured locally.

No doubt, that supermarket doesn't care if dollar sells for N3000, the owners will continue to buy dollars.

I had never seen anything as overwhelmingly metaphorical of the malaise that is eating away at the heart of the Nigerian economy.

As a country we don't earn enough dollars, yet we cling on to unrelentless needless imports.

It is difficult to see what any government can do to stop the continuing loss of naira's value.

Until we as individuals start shunning unnecessary imported goods, the naira will have no chance against the dollar.