as human georgia, this why stay with our team to national. busy all the latest from around the world . bang for watching by now. the i am theater the moon, but here this flyer, kasia conservancy and mike chuck was county and the republicans getting it. you know, africa as clearly the one said a lot of, uh, always something new. and to the extent that african country is every gain, the independence in the late fifty's on 60 the,

i caught them is what? traditionally, depending on west 10 institutions, it was a, the euro, or the united states of america through institutions which was dominated by the west. what did natalie decide to add the bretton woods institutions created in the bedroom of wood in the 1900 done for it is after the 2nd world war and the magi institution that emerged out of that space. why the international money is refund on the bones for development or the not a little fide to the wide bunk. 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 west. 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 sucks. 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. they won many activities with the fust imagine meeting taking place in the 2009. and of course, in the 12102011 south africa was admitted and it was no longer brief, but bricks as us because of what was the reason behind this

suggestion that there 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 the african countries wide dominated by western institutions. so that you had a government such as the low may convention which was between the african countries on 03 and union outside of the american finish show you our convention site, the clicked on new convention. and aside from that, we also, so that the, i am i a mess and the log bank, what very dominant in african countries, particularly during the 1908 is under what was then referred to as this structural adjustment. during this structural adjustment,

i am asked on the water band came to the us with the economies on what they did was to mic economic prescriptions from which african countries of nobody covet. it is when economies which are not in the fast water, so to speak, started to emerge as money from getting economies. they started to a much as made j economies that it became sensible to begin to talk about these imagine economies as the count, the way the i m f under was brazil was beginning to emerge as the economy which was industrialized even mexican jets. india was beginning to emerge as being very domain and in the wilds of technology. in the wilder computing, china was also imagine as the manufacturing hub or ice. yeah,

of course had been, had bought because of it submitted 3 capability among other things and also its ability to leverage on ship knowledge. so those why the not federal the 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. oh, do you involve for god when south africa, which was the domain of 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 with that you wanted to admit 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 the 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 then

is, what is the value if any of critics to the continental wasik i hold of the view that bricks 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 met africa, go through what i called the lot that they agreed cultural agree under pollution, this india can provide that technology. russia can provide that the loaner technology through the fact that lies a schemes signing up and 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 continent of africa. if you leave the car, just sit tight in the energy sector. right now, if you look at a country like china, it generates more electricity than on african countries. combined, we need to acknowledge, you know, that 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 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 dried 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 us to undermine for nuclear technology. and i think the that is very significant. the russians are also going to be negotiation, as they already stated, in searching to trust fund the necessary to acknowledge the 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 for and said free 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 wire, 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 now. on my see does may very well be conservative, almost 80 percent 7, something between 70 to 80 percent of international trade is a i mean they that 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 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, uh, there's 2 legacy nigeria. it must go through a corresponding bank in new york before it comes back. that is how i don't mean 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 feeling the soft card, they had currencies in the world. us talking dollars, you are talking euro. you are talking about the styling fund. and as somebody said, when the american de la sneeze, this african cutting says, go into a coma. the brooks, in my view are now saying that we've got to have

a payment system that is going to be doing better eyes, though economies. so the economy is on 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 for countries within the continent of africa to trade using the currencies. 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 did 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 uh to grow for the benefit of the people. but what the challenges going forward already? they are mary sounds jittery. the, the, i get tell you 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 increase it 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 art of 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 on? why are these already resisting a they 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're going to impose tar, if a non target barriers, don't you a goods. they already go saying that we are going to ensure that we deny you access to credit through institutions such as the math on the was on. another thing that they are doing is that many western 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 bunk, is the united states of america, the germans, the the jump on these uh the, the british uh the, the franchise. yeah. and as i've said, i've had different for the last week on 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 told. we prepare for give you a debt. if you don't joined the books. but i hold the view when i put this cane that breaks. if we remain faithful dates, the agenda provide us with the countries with an opportunity to participate in on economic order with the on the done on which they participate in from us on point of respect. and as for chunk, the members, as opposed to institutions, sides of the math on the word bunk, which was created when african countries was still on the colonial you'll speaks is

the way to go. i hope and pray that people to succeed, difficulties will exist. but those difficulties can be constructed into opportunities. conversation around africa continues apace. but let us of a break. we see you in a short while, the, [000:00:00;00] the, i am here to remove them, but he, uh, power dies gardens in campbell county in the republic of kenya. we