Friday, 20 June 2008
Paul Collier, author of the Bottom Billion, recently spoke at TED. He points out that Angola's annual oil revenues were $50bn, dwarfing the entire $34bn aid to the poorest billion people; and argues a set of international standards on good governance in extracting commodities.
Sure, fine, but as the previous post pointed out net private resource flows to the developing world from US citizens and companies exceeded $130bn last year. It is cross-border links which are really growing; and which aid organisations must exploit.