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Maoist socialism

In this series we will publish weekly cutouts from the book by Kristian Niemietz

CHINA UNDER MAO TSE-TUNG: ‘A REVOLUTIONARY REGIME MUST GET RID OF A CERTAIN NUMBER OF INDIVIDUALS THAT THREATEN IT’

How Socialism Destroyed Africa

Equating capitalism with colonialism, Africa’s nationalist leaders rejected it and adopted socialism in the 1960s. Foreign companies were nationalized, a string of state-owned enterprises was established and a plethora of state controls on rent, prices, imports, and foreign exchange were imposed to capture the commanding heights of the economy.