Dambisa Moyo: "Foreign Aid Has Always Failed Africa"

Regular Booker Rising readers are familiar with Dambisa Moyo, the Zambian-born conservative economist and best-selling author of Dead Aid. Her thesis is that foreign aid has undermined Africa's progress and offers free-market solutions so the continent can be a global player. Well, Dead Aid has been translated in French, and released on September 16. L'Express magazine (France) interviews her (article in French):

Why is your thesis so radical? Aid has nowhere reduced world poverty nor stimulated growth. Worse, the perverse effects are obvious: it fuels corruption, weakens the rule of law, and hinders private investment. It [Foreign aid] continues to favor a process that has always failed.

And the West's obstinacy? First, this approach it is much cheaper than the opening of world trade. It isn't Congolese peasants who vote for Nicolas Sarkozy, but French farmers, who he properly cares for. Then, I see religious and moral roots. The Left believes that an imperative to help the poor by the rich is needed.

Do you measure the human cost of removing the aid? Things are worse today. In 1970, 11% of Africans lived on under a dollar a day. Today, [it's] over 60%. The status quo is more failed states tomorrow, more unemployed and bitter youth; educated but denied prospects.

You discuss China. Now, it conquers Africa. The West accuses Beijing of acting as he did for so long. Of course, the treatment of labor and environmental policy of Chinese investors are flawed. But who has the mission to restore order? Africans. There needs to be consistency: the United States does not hesitate to borrow a fortune from Beijing, or London to trade with China, Russia, and Libya. At least the Chinese are building roads and improving connections to the continent.

Which [African] countries do you think are on the right path? South Africa, Botswana, Ghana, Rwanda. I don't view [Rwandan President] Paul Kagame as a dictator. There, inflation is under control, growth exceeds a 7% annual rate, and public services operate.