The frothing financier is back
The Lounsbury has unexpectedly reemerged in full fury over at ‘Aqoul, just as rigor mortis was about to set in at that excellent blog (despite Mr. Hogan frantically massaging the corpse). This time, the Mozart of webrage lets out a long, smouldering rant about the Algerian government’s economical thinking, which, he angrily surmises, is regressing to 70s-style insular socialism. Extract:
Having endured months of listening to Algerian movers and shakers of an official sort whinge on about Renault and France’s “betrayal” of Algeria, for having made the rational economic and business decision to invest in Morocco where Renault does not have to face absurd capital controls and serious doubts as to repatriation of profits, childish application of customs rules, a primitive banking system, a screwed up port system, a foreign investment climate making it difficult for it to flexibly invite in known partners in-country to become supplies, and nasty security climate relative to both its own expat managers and the site itself as a Kafir Investment…. Any one of those items can be overcome. All of them cumulatively and…. well why the fuck would Renault invest in Algeria?