The four B's have agreed to renew the corporate plunder of Africa most of us believed should have ended after 1960s de-colonisation.
The fact that forty years have now gone by with another carve up of Africa means that the global justice movement needs to re-assess the lie of the land in the light of recent developments, both in relation to what our enemies are doing, as well as some of our supposed friends.
All aid and debt relief is tied to foreign policy. It is no coincidence that military aid is part of the package, and is directly linked to Bush and Blair's 'war on terror'. Debt
The G8 have agreed to cancel the debt of only 18 countries, whilst leaving another forty with nothing. Even for those on the list the package is much less generous than it appears.
Seventy per cent of outstanding debt will still remain in ten years time. And what was borrowed has already been repaid many times over already. Trade
The debt relief for 18 countries is tied in to them agreeing to open up their economies for western multinationals to buy up water, gas electricity and other essential utilities.
Gordon Brown has won his demand that poor coun tries must meet his obligations to allow foreign investment and open up trade.
The G8 considers trade barriers imposed by any African state to be discrimination against foreign companies.
Poor countries will not be allowed to regulate trade.
The G8 will try to sell this as a Marshall Plan for Africa.
Self interest of the richest countries is at the heart of this agreement.
If western countries own economies are to continue to grow, and therefore prosper, they need open access to new markets, and raw materials in Africa to maintain and raise profits. Aid
Most recipients of aid according the Department for International Development are commercially important to the business sector, not just as export markets, but also for. raw materials..'
Therefore although aid is packaged as if it were going to the poor, in fact most goes to subsidise and develop private capital.
That is why aid is bad for the poor. The old Thatcherite argument that wealth trickles down from the top is as discredited in Africa as it is in Britain.
Nothing Militarism
Aid is linked to militarism. The G8 has agreed to train another 20,000 peacekeeping' troops. Bob and Bono
It all sounded good when Saint Bob announced demonstration in Edinburgh on July 6, but his demonstration turned into yet another concert when the real movement for global justice were marching in Gleneagles.
In fact Bob tried to split the movement, by placing himself at the head of it.
He attacked demonstrators in Edinburgh who themselves were the victims of police brutality. He claimed they were not part of 'his campaign. In fact Bob is not part of any campaign except the G8.
Bob has extensive business interests. Formerly a part owner of Planet24 TV production company, he sold his interests for a reported £15 million.
He then jointly set up another production company, 10 Alps Broadcasting where he is a non-executive director.
Its aims for the future are to continue growth of any government TV channel business, as well as to "seek further sales in America? You're doing a grand job, Bob. Geldof's wealth was estimated by Broadcast magazine in 2001 to be £30m a position of 18th in a list of UK broadcasters.
Historically the ruling class will try to destroy movements that threaten them. When Martin Luther King called for the Civil Rights Movement to march on Washington as one million. John F Kennedy endorsed the march, turning a poten- tial confrontation into a friendly walk in the park.
It is inconceivable that Bob, Bush and Blair would not have co-ordinated this together given the amount of time they spend socialising together.
This is a new development, which the movement must now deal with, firstly by exposing Bob as an apologist for global capitalism.
Then by redoubling our efforts to expand a genuine mass against poverty, war and racism.