The four hundred year long Trans-Atlantic Slave trade to the Americas brought an estimated 12 million slaves from a labor scarce region, Western and South Western Africa, to a relatively labor abundant region. African Elite sold away inland populations who were unprotected. In return, the elite bought foreign goods: Brazilian liquor, European gunpowder, and Indian cloth. The elite, in many cases of the Sahel, consumed rapaciously and initiated a snowballing cycle of violence that precluded anything resembling mass industrialization. So goes Walter Rodney's famous argument in How Europe Underdeveloped Africa
KUALA LUMPUR, (AFP) - Fund managers and analysts expressed confidence Malaysia's banking stocks will stage a rally following the government's announcement that the number of core banks may be increased.
Most analysts also said they remained bullish about the immediate and long-term outlook of Malaysian banks despite expectations of a snap general election in mid-November.
