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We tend to think of Africa as being a huge net debtor
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The Spider's Web: Britain's Second Empire

We tend to think of Africaas being a huge net debtor to the rest of the world,but that was...

We tend to think of Africa
as being a huge net debtor to the rest of the world,
but that was the extent of their debts at the end
of 2008, $177 billion

Full Transcript

00:00:01.000 --> 00:00:05.706
We tend to think of Africa as being a huge net debtor
00:00:05.706 --> 00:00:09.728
to the rest of the world, but that was the extent
00:00:09.728 --> 00:00:14.484
of their debts at the end of 2008, $177 billion.
Duration
15 seconds
Views
28
Timestamp in Movie
00:32:46
Uploaded
Oct 30, 2025
Genres
documentary
Production
N/A

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Movie Summary

How Britain transformed from an imperial power to a financial power.
- [Narrator] The debt of Sub-Saharan African nations stood - The Spider's Web: Britain's Second Empire 00:07
- [Narrator] The debt of Sub-Saharan African nations stood
Yet the wealth these countries' elites had moved offshore - The Spider's Web: Britain's Second Empire 00:15
Yet the wealth these countries' elites had moved offsho...
Far from being a net debtor, Africa, Sub-Saharan Africa, - The Spider's Web: Britain's Second Empire 00:10
Far from being a net debtor, Africa, Sub-Saharan Africa,
- [Narrator] As capital moved offshore, - The Spider's Web: Britain's Second Empire 00:10
- [Narrator] As capital moved offshore,
Over time, these debts became so great - The Spider's Web: Britain's Second Empire 00:08
Over time, these debts became so great
Secrecy jurisdictions were starving developing nations - The Spider's Web: Britain's Second Empire 00:08
Secrecy jurisdictions were starving developing nations
- For a long time, a lot of developing countries, - The Spider's Web: Britain's Second Empire 00:13
- For a long time, a lot of developing countries,
During the financing for development process - The Spider's Web: Britain's Second Empire 00:13
During the financing for development process
So why would they not want - The Spider's Web: Britain's Second Empire 00:14
So why would they not want
As long as we have cross-border activity - The Spider's Web: Britain's Second Empire 00:12
As long as we have cross-border activity
- [Narrator] Western nations block attempts - The Spider's Web: Britain's Second Empire 00:20
- [Narrator] Western nations block attempts
- The oil from Gabon has not benefited people in Gabon. - The Spider's Web: Britain's Second Empire 00:07
- The oil from Gabon has not benefited people in Gabon.
And this is true for the copper in Zambia, for the gold - The Spider's Web: Britain's Second Empire 00:10
And this is true for the copper in Zambia, for the gold
They have benefited, the company that do extract it, - The Spider's Web: Britain's Second Empire 00:09
They have benefited, the company that do extract it,
It has benefited the corrupt elite in the country. - The Spider's Web: Britain's Second Empire 00:05
It has benefited the corrupt elite in the country.
In developing countries, the offshore system - The Spider's Web: Britain's Second Empire 00:11
In developing countries, the offshore system
It has enabled them to steal the money - The Spider's Web: Britain's Second Empire 00:06
It has enabled them to steal the money
- Illicit financial flows, because the anonymity - The Spider's Web: Britain's Second Empire 00:12
- Illicit financial flows, because the anonymity
This is why there's a group of countries - The Spider's Web: Britain's Second Empire 00:08
This is why there's a group of countries
It's that the incentives of individuals - The Spider's Web: Britain's Second Empire 00:20
It's that the incentives of individuals