that i am theater of the moon, but here the slow our case shall conservancy and my chuck was county and the republican good. yes. you know, africa as clearly the one said a lot of uh, always something new. and to the extent that african country is any gain, the independence in the late fifty's on 60 is the quantum, is what traditionally dependent on western institutions. it was a, the euro, or the united states of america through institutions which was dominated by the west, or denied or related 5 to the bretton woods institutions created in the bedroom. the wood in the 1900 done for it is after the 2nd world war on the mega

institution that emerged out of that space was the international moneys refund on the bones full development or denied or referred to as the wire debunk. many people do not know, but what is now called the wild trades organization was also muted at that time. but of course, what we know is the general agreement on types all got these institutions was dominated, created and still dominated. by the way, i'm, that is why therefore, when you became an idea and it must be said that the idea was from a conversation by another width. and goldman sucks. who came for the 1st time and talked about imagining economies, particularly the economist or need, who talked about them in brownsville, russia, india,

and china. between the 200 and the 2000, the 200112009. they won many activities with the fust imagine meeting taking place in the 2009 under of cost in the 12102011 south africa was admitted and it was no longer brief, but bricks allows us cause so of what was the reason behind this suggestion that this should be on 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 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 and union outside of below mich confession, you, i'd convinced your side of 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 enough within countries, 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 make economic prescriptions from which african countries i've never recovered. it is when economies which are not in the fast water, so to speak, a started to emerge as money from shutting economies. they started to a much as major economies that it became sensible to begin to talk about these

imagine economies as the count, the way to the i m f. and there was the brazil was beginning to emerge as an economy which was industrialized, even making jets. india was beginning to emerge as being very domain. and in the wild of technology in the computer, china was also imagine as the manufacturing hub or us. yeah. of course, had been, had bought because of its a military capability among other things, and also its ability to leverage on stick knowledge. so those why the not federal stones upon which the new economic order would rest. but africa was being exploded on because africa was being excluded the question then i rose,

how do you involve african went south africa, which was the dominant 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 with that you wanted to admit to the nigeria. but nigeria, zip code of me would not as sophisticated as south africa's economy. some even talked about the admission of egypt at that time. but in those 90 days, as we know, it is south africa that was admitted and we now talk of bricks. the question then is, what is the value? if any of you to the continental wasik i hold the v of the brooks provides a great opportunity for african countries to look at the economies from a different standpoint. many of frequently 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 call the lot that they agriculture will agree under pollution. india can provide that technology. russia can provide that deployed technology through the fact that lies a schemes signing up can provide that brazil can do that. if you go into the fishing system, china can 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 sit tight in the energy sector. right now, if you look at a country like china, you generate more electricity, then on african countries combined, we need the knowledge in order to improve a, the hydro electricity generation g assemble. 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 the and 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 2 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 there are i sions, in negotiations with the new city and 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 so on the molly for nuclear technology. and i think the that is very significant. the russians are also going to be negotiation. are they already stated in searching to trust 5, the necessary to acknowledge the has a thing is uh 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 minute style is $4.63 of the united states, henry kissinger, and there was on a so d, o a minute stucco ship is lucky jamante. and at that time, that is when the quantum, the of the was the was a dollar eyes on, through the dollar eyes ation of 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 the time in nathan in the united states dollar. in other words, i'm in nairobi, kenya, and i use a visa card or american express. it is expressed in don't let them, you know, the words, 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, there's 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 brooks, in my view on now say that we've got to have a payment system that is going to the dollar eyes though i, economies so that our 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 suck 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, exam b, i also tried to trade in that you want. but the whole idea is that you have a basket of currencies, and in that way, with the dollar eyes, the economies on when we the dollar eyes 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 girl for the benefit of the people. but what the challenges going forward already? they are married kind of jittery of the g 30 because the bricks is expanded today the bricks, countries combined 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 brick sort of the western countries control only 27 percent. and that is increased because many african countries are now saying we want to join and we want to john brooks and countries such as a nigeria and other event in the arab world, i joining the brooks 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 the head wind, the west on while it is already resisting the already saying the are going to sanction you. so is there what one of the size is, sanctions of the already going to say that we are going to impose tar, if a non target barriers don't you have groups the 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 water bunk. another thing that they are doing is that many wisdom countries are now acquiring interest in african development bunk and is not lost on me. that often nigeria, the 2nd largest shareholder in the african development bunk, 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, that's a different part 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 joined the books, but i or the view when i put this cane that breaks. if we remain

faithful to it's the agenda, provide us with on 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, the members, as opposed to institutions sides of the mess on the was bunk, which was created when african countries was still on the colonial. your speaks is the way to go. or, i hope and pray that the to the 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 take a fresh look around. there's

a life kaleidoscopic, isn't just a shifted reality distortion by power type vision with no real opinions. fixtures designed to simplify will confuse who really wants a better wills. and is it just as a chosen few fractured images presented to this? but can you see through their illusion going underground, can the i m p a minimum, but he uh, power dies gardens in campbell county in the republic of kenya. we continue with the.