Kwame Nkrumah: The granting of economic "aid" from capitalist countries is one of the most insidious ways in which neocolonialism hinders economic progress in the developing world, retarding industrialisation and delaying the development of a large proletariat. Only 10 per cent of U.S. "aid" to Africa is spent on industrialisation, and most of this is in those areas regarded as "safe" for capitalism. In contrast, 70 per cent of aid from socialist countries is spent on industrialisation and the organisation of profitable production. Interest rates on loans from capitalist countries vary from between 6J to 8 per cent, whereas socialist creditors charge only 2 per cent. Aid from socialist countries is used mainly for state projects. This again is in striking contrast to "aid" from the West, which is almost entirely in the private sector. wordsmith.social/protestation/…