Thursday, February 27, 2014

The Cost of Africa's Rising Homophobia

President Museveni thought this would be a clever – and risk free - way to cement his hold on power by thumbing his nose at pesky western notions of human rights and stir up gutter-level anti-gay emotions.  Thank god for financial markets!  Money talks and something else walks.  Investors and humanitarian groups and just beginning what is going to become a rush for the exits from Uganda and Nigeria.  Western emerging markets investors, including all the big US endowments like Yale and Harvard, have invested billions in these sexy “frontier markets”.  But if there’s one thing that will scare these folks away (assuming massive corruption and dysfunctional resource-dominated economies didn’t do it) is the risk of being targeted by human rights activists, students, and others.  Wonderful.  If ever there was a clear cut case for “imposing” Western values on other countries, this is it. 

http://www.bloomberg.com/news/2014-02-26/uganda-s-anti-gay-law-punished-in-foreign-exchange-market.html

 

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