I am by nature an optimist. A long and challenging life has tempered that optimism with a large dose of realism but I am definitely a “glass half-full” kind of man. As a regular contributor to The Exchange I don’t really want to blame another contributor for tipping me over the edge into downright pessimism but, having read the excellent piece by Eric Kimunguyi entitled, “Europe taking on the world to lock out agriculture” I am not of good heart. In fact, I cannot remember a time when I have been less optimistic about the financial future of the world economy. The world financial system is even sicker than the world’s population. The Covid-19 pandemic is still having devastating effects on human health and wealth around the world – some 18 months after it first appeared. The world’s leading economies are broken and are still printing money to subsidise their balance sheets as the chill wind of inflation begins to blow across the world. If we are waiting for the Europeans and the US to rescue a post-Covid-19 East African economic bounce-back then we will wait in vain. For far too long we have all been guilty of looking at the export
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