Thomas Piketty writes that, in contrast to other continents, nearly twenty percent of African capital was owned by foreigners in 1970, well after independence. When did countries in Asia and the Americas escape this kind of foreign ownership? Was it a natural process or one forced by independence?

by All_Tan_Everything

Erusian

How does Piketty define 'capital' in this case? If he means all forms of capital, he is wrong. However, he might be correct for a type of capital (and some forms of capital were at times even higher). Piketty has some rather unique definitions of capital too, so it's good to be precise about his claims.