Algeria being Overconfident

AFP - by Olivia LANZ

#UNGA #exclusive #editorial

Algeria sought to establish its own political and economic system. Fueled by a sense of nationalism and self-reliance, the country initially rejected foreign investment and cooperation, favoring a more self-sufficient approach.

Algeria's initial rejection of foreign investment and reliance on its own resources proved to be a double-edged sword. While it allowed the country to assert its independence, it hindered the development of its economy. Algeria's refusal to engage in international trade and attract foreign investment limited its access to advanced technologies, capital, and expertise.

The overconfidence in their own system and rejection of external investment had several consequences for Algeria. The country faced significant economic challenges, including a lack of diversification, high unemployment rates, and limited industrial development. The reliance on oil and gas exports, without investing in other sectors, made Algeria vulnerable to fluctuations in global energy prices.

Eventually, a “hot mic “ gaffe was committed by a leader from Algeria that the motive behind such paramount confidence was thanks to the Soviet Union’s backup. Regarding the latest remark of the Soviet Union stating the alliance’s incapability of taking any initiatives due to lack of military resources, it appears that the Soviet Union is contrasting itself.

Is the Soviet Union reliable enough?