Last November I posted on a curious–and possibly environmentally devastating–case of neo-colonialism involving Madagascar and the Korean conglomerate, Daewoo.
The case involved a deal being hatched between the country’s leadership and Daewoo whereby the Korean company would lease about half of Madagascar’s arable land with the intent of growing export crops for Korean consumption. As I noted at the time, about 65% of the population in Madagascar was facing chronic food insecurity. The details of the plan were sketchy, but if the deal went through, likely people in an already tenuous position would be displaced from their land, or forested areas of the country would be converted to commodity cropland causing serious environmental problems.
It appears that the potential deal struck a chord with the political opposition and prompted the street demonstrations that culminated in a military-backed coup last week. Thus it is noteworthy that the new president, Andry Rajolenia, announced yesterday that the deal is now cancelled.
The political situation in Madagascar remains precarious after the coup, with the US announcing that it was suspending aid. But it appears–for the time being–that this ill-conceived Korean sell-off is dead.