or the non related side to the bretton woods institutions created in veteran wood in the 1900 done for it is of to the 2nd world war and the med. yeah. institution that emerged out of that space was a international monday. the refund on the bones for development or denied, or referred to as the while debunk. many people do not know, but what is now called the wild trade organization was also muted at that time. but of course, what we know is the general agreement on top of all got these institutions was dominated, created and still dominated. by the way, i'm, that is why they are full when you became an idea. and it must be said that the idea was from a conversation by another width and goldman sachs who came for the 1st time and

talked about imagining economies, particularly the economist or need who talked about bricks to me in browse vill russia, india on china between the 200, the 2000, the 200112009. there are many activities with the fust measure meetings taking place in the 2009 and of costs. and the 12102011 south africa was admitted. and it was no longer brief but bricks and then i was off course of what was the reason behind this suggestion that there should be an economic broke or couldn't economic. but you know, not the brits. the reason must be understood in the context of history, in the context of history, to mean that many of african countries wide

dominated by western institutions so that you had a government such as is a low man convention which was between the african countries on 03 in union, outside of below mich convention, you, i'd conventions i, to the quarter new convention. and aside from that, we also, so that the, i am i a mess and the log bunk. what very dominant in african countries, but particularly during the 1908 is under what was then referred to as this structural adjustment. during the structural adjustment i met on the phone came to the us with the economies on what they did was to mic economic prescriptions from which african countries of nobody covered. it is when economy is which are not in the fast wired. so to speak,

started to emerge as money from shutting economies. they started to a much as made j economies that it became sensible to begin to talk about these imagine economies as the account, the way the i m f and the was brazil was beginning to emerge as an economy which was industrialized even mexican jets. india was beginning to emerge as being very dominant in the wild of technology in the computer. china was also imagine as the manufacturing hub or i ship of cause had been, had bought because of its a military capability among other things. and also its ability to leverage on technology. so those why the not federal the stones upon which the new economic order would rest. but africa was being exploded. and because of the go as

being excluded the question then i rose. how do you involve off or gone when south africa, which was the domain, not the economy at that time. a said that they were interested in these arrangement . there was then i missed it. of course there was then the question i at at that time whether you wanted to admit to the nigeria. but nigeria, zip code of me was not as sophisticated as south africa's economy. so i'm even talked about the admission of egypt at that time. but in those, on the days as we know, it is south africa that was admitted and we now talk of bricks. the question that is, what is the value? if any of critics to the continent of africa. i hold the view that brooks provides a great opportunity for african countries to look at the front of me is from

a different standpoint, many african economies are still a good area. and if i'm permitted to use that word, you want to look at the economies that are going to make africa go through what i called the lot that they agreed cultural agree under pollution, the india can provide that technology. russia can provide that the lower technology through the 1st allies schemes signing up can provide that brazil can do that. if you go into the fishing system, sign up and do that. brazil can do that. in other words, these are countries that have appropriate technology, which can be deployed in the continental wasik if you leave the car, just secretary in the, in the just septa. right now, if you look at a country like a china, it generates more electricity than on african countries combined. we need that, that knowledge in order to improve a,

the hydro electricity generation g o samo. we need to have high, we need to have solar, we need to have wind and is not lost on me. the china is indeed the home of most of these solar panels. we need that. we need also to have our infrastructure. and once again, these are countries that have the know how, because in the reason 1st they have succeeded in ensuring that the economies are lifted from above. and we don't talk about this as often as we should. but in the last 5 years, china has been able to lift no less than 800000000 of the population outside of it. we also need, as i've said, to go into this space of industrialization. and when you talk about industrialization is not lost on me. the right now, the russians in negotiations with the new city and it's for purposes of deploying

min nuclear technology. a nuclear technology is going to be very useful when we need reliable power. they also, in negotiations all a while to get into negotiations with book enough for us to undermine for nuclear technology. and i think the that is very significant. the russians are also going to be negotiation. i'd be able to read this data in searching to trust fund the necessary to acknowledge the thing is in the area of competency donation. we all know what happened in 1972. i remember as a young man, there was at that time the for an minutes, those 4 and 63 of the united states, henry kissinger, and there was on a. so d o a minute step code ship is zaki omani. and at that time, that is when the quantum, the of the was the, was a dollar eyes on,

through the doing that or i vision all the international economy, the whole idea of the pit for a girl that came about as i speak to you, not on my see does may very well be conservative, almost a 3 percent, 7, something between 70 to 80 percent of international trade is a, i mean they that in the united states dollar, you know, other words i'm in nairobi can. yeah. and i use a visa card or american express, it is expressed in don't let them, you know, the, what the banking system internationally is controlled by the west. it is swift. swift may be registered in belgium. but if i'm transferring money from after i and gone up with 2 legacy nigeria, it must go through a corresponding bank in new york before it comes back. that is

a how domain and the international money for the system is got to see of the west. and if you're not dealing with the sift, you are dealing with the i bond. and if you're not building this soft car to they had gardens in the world, us talking dollars, you are talking euro. you are talking about the styling, fund a. and as somebody said, when the american door law sneeze, this african cutting says go into a coma. the bricks in my view are now saying that we've got to have a payment system that is going to the dollar eyes though economies. so that way economies are not dependent on the united states dollars. and in fact, we do know as a fact that almost anything between 40 to 50 percent of the united states dollars is too late. thing outside of the united states of america bricks does provide an

opportunity of full countries within the continent of africa to trade using the carter. this is, and i know for example that the india and india on the tons and yeah, i've already started the tried to trade in there will be, i know, a zombie. i also tried to trade in the one, but the whole idea is that, you know, have a basket of currencies. and in that way, with the dollar eyes, the economies on when we did the rise or economies, it means that we are going to be much more in control of loss, says in control of inflation. and or those are the things that are necessary you for calling them is active growth for the benefit of the people. but what the challenges going forward already? the, i'm mary sounds i get 30 the, i get 30 because the bricks is expanded today, the bricks,

countries combined to have large a quantum, me then western europe combined as that these yeah, the bricks, economy is controlled. 36 percent of the economy and the bricks or other, the western countries control only 27 percent. and that is increase it, because many african countries are now saying we want to join and we want to john brooks and countries such as an idea and other event in the arab world. i joining the brits and if the western world is not very careful, then brooks is the next big thing in town. even if it is not. it does not look like it now. but what do headwind the west and why are these already resisting of the already saying the are going to sanction you. so is there when one of the size is sanctions? the already going to say that we are going to impose tar, if

a non target barriers don't you have groups. they already go say that we are going to ensure that we deny you access to credit through institutions such as the m, f and the was another thing that they are doing is that many wisdom countries are now acquired an interest in african development bunk and is not lost on me that often nigeria, the 2nd largest shareholder in the african development bank, is the united states of america. the germans are they are the jump and these are the, the british of the, the french isaiah. and as i've said, as a different floor of the african development bunk is in danger of being an african bank by name only because it is fundamentally controlled by those shareholders. so this is going is not going to be easy. there's going to be divide and rule, and i suspect that a number of african countries are going to be don't we prepare for give you

a debts if you don't train the books, but i or the view when i put the scale that breaks. if we remain faithful due to the agenda, provide us with the countries with an opportunity to participate in on economic order, which they understand and which they participate in from us on the point of respect . and as for chunk that members, as opposed to institutions sides of the mess on the word bunk, which was created when african countries was still on the colonial. your speaks is the way to go. i hope and pray that it will succeed. difficulties will exist, but those difficulties can be converted into opportunities. conversation around africa continues apace, but let us have a break. we see you in

a short while. the activity for college students deal them. uh, mostly movies. zip leslie, news. yes. imperious. you know, jeez, i'm getting your i'm assuming some of the no, no go commercial, but she has told me what else do i need for the sofa soon? have you ever seen this before and most viewed in the water vista with

the i m p. it everyone, but he uh, power dies gardens in campbell county in the republic of kenya as we continue with our conversations about the continental vasa. and today we focus on a country that has the rich history historians at one time referred to ha, as i've seen. yeah. but known to most of the as it seems on one of this great is claims to fame it.