Re:Ghana will no longer sell cocoa to Switzerland
by Blackstone4 on Friday March 19, 2021 @10:39AM
(#26513837)
Is that really true? The international supermarkets may chose to invest by open new stores....secondly, they had to buy the local supermarkets in the first place...that went somewhere...maybe that was reinvested locally. It is not clear cut.
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Re:Ghana will no longer sell cocoa to Switzerland
by labawi on Friday March 19, 2021 @12:47PM
(#26515532)
> they had to buy the local supermarkets in the first place
When foreign owners extract profits to recover their investment or pay whomever, wealth is in fact leaving the country - because they still own the capital (stores) yet get money back.
It's not clear cut based on this. They could have invested beyond price, brought knowledge, improved efficiency ... It's also possible they are in effect extracting wealth colonialist style, which is something to beware of - at scale it can have severe consequences for local economies.