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After posting something about the Zimbabwe dollar in the "be careful what you wish for thread" I was searching around for more reports/facts about the situation in Zimbabwe and this wiki info seems to reasonably summarize the "land reform" problem causing disasterous famine and economic collapse:
The results of the post-2000 land reform have been disastrous for the economy of Zimbabwe. Prior to land redistribution, land-owning farmers, mostly white, had large tracts of land and utilized economies of scale to raise capital, borrow money when necessary, and purchase modern mechanised farm equipment to increase productivity on their land. The reforms broke this land into smaller tracts (thereby destroying the economies of scale) and gave it to former black farmworkers and peasants, who had little knowledge of how to run the farms efficiently or raise productivity. Further, the refusal of banks to lend them money has limited their ability to purchase equipment or otherwise raise capital. As a result, the drop in total farm output has been tremendous and produced widespread claims by aid agencies of starvation and famine. However, Mugabe's expulsion of the international media has prevented full analysis of the scale of the famine and the resultant deaths. What is not in dispute is that a country once so rich in agricultural produce that it was dubbed the "bread basket" of Southern Africa, is now struggling to feed its own population. A staggering 45 percent of the population is considered malnourished. Foreign tourism has also plummeted, costing tens of millions of dollars a year in lost revenue.
Many observers view land reform as an essential component of decolonization. Since mainland China's economic reforms led by Deng Xiaoping, land reforms have also played a key role in the development of the People's Republic of China. What remains controversial in Mugabe's Zimbabwe is the manner of the land reform, its haphazard nature, and the widespread suspicion that it is being used to reward Mugabe supporters and attack his opponents, with others, including thousands of blacks who worked the white-owned farms and those experiencing famine, losing out.
As of July 2008, Zimbabwe suffers from widespread food shortages, the world's highest official inflation rate at 231,000,000% and a bitter political struggle often turned violent between the ruling ZANU-PF party and the opposition Movement for Democratic Change, whose members have faced imprisonment and torture. Domestic and international critics lay much of the blame for the current chaos at the feet of the land reform program. Many Zimbabwean refugees have fled to South Africa or Mozambique.
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