President Bush on Friday imposed economic sanctions on Zimbabwean President Robert Mugabe and 76 other high-ranking government officials, accusing them of undermining democracy in the impoverished southern African country.Following the lead of the European Union, Bush issued an executive order freezing their assets and barring Americans from engaging in any transactions or dealings with them. The sanctions take effect immediately.
"Over the course of more than two years, the government of Zimbabwe has systematically undermined that nation's democratic institutions, employing violence, intimidation, and repressive means including legislation to stifle opposition to its rule," Bush said in the order.
However, I can't agree with the method, the parts that are market intervention. Cutting off diplomatic ties is one thing, but barring Americans from doing business over there is wrong. Let Americans decide where to do business. If they think Zimbabwean companies and government agencies are worth doing business with, then fine. Consumers will make their choices.
ATTENTION: Comments are closed. You are viewing my old blog, archived for search engine purposes.
To view the new blog, please go to the homepage. To find the current version of this entry, search here.