Russian ambassador to Kenya, Dmitry Maksimychev, said that the West is robbing Africa, as commodities produced in Africa are priced much lower than the end products.
The West is robbing developing countries and African nations in particular, Russia’s envoy to Kenya, Dmitry Maksimychev, told RT in an interview released on Monday. It is intentionally preserving price disparities to ensure the situation doesn’t change, he claimed.
Maksimychev said commodities produced in Africa “are priced much lower than the end product, which is often made in the West from the commodities imported from the developing world.”
The West isn’t giving Africa a chance to accumulate enough capital for industrialization and economic growth, he said.
Professor and economist Richard Wolff said that BRICS expansion goes hand in hand with de-dollarization and the decline of the ‘US empire’.