The transcripts of the trial of Charles Taylor, former President of Liberia. More…

Well, let's deal with the diminishing of the commercial public sector and then I will work into what I'm talking about here. It's important for the Court to understand that Liberia is one of those curious countries where the commercial part of our economy was - I would almost say 85 per cent held by foreign nationals; Lebanese, Indians and other nationals that you could hardly find a Liberian with one little storefront to sell dry goods and other things.

Liberians continued to remain dependent on the presence of foreign - and I don't say this is in negative way because we, I appreciate the presence of foreigners, they've contributed significantly - but this was to encourage Liberians to get involved in the whole economic structure by doing some business, do something, and not just leave it up to foreigners to do. Now that's what we meant by this commercial situation.

The second part was that we are still hinting to non-government involvement in the - as far as control as in a communist type economic environment where there would be a free enterprise but there would be a type of what is referred here as a regulator/referee.

So instead of owning, the government owning and operating the systems of distribution in the country, it would do what most western economies do is to - what you call regulate and referee and I guess if they had done that we would not have the - if they had continued doing that in the West we would not have the present global economic crisis.

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