Richard Armitage was the 13th United States Deputy Secretary of State, serving from 2001 to 2005. He served in the U.S. Navy during the Vietnam War and then after the fall of Saigon moved to Washington D.C. to work as a consultant for the United States Department of Defense, which sent him to Tehran and Bangkok.
Throughout the late 70s and early 80s, Armitage worked as an aide and foreign policy advisor to politicians including Senator Bob Dole and President-elect Ronald Reagan. When Reagan was elected, Armitage was appointed to the Department of Defense. In the 1990s, Armitage worked in the private sector before being confirmed as Deputy Secretary of State with the election of George W. Bush in 2001. He left the post in 2005.
Armitage was educated at the United States Naval Academy. He is an avid bodybuilder, and speaks many languages, including Vietnamese.
Question: How do you track foreign investment?
Armitage: Well you don’t regulate it. If it’s going into a state, the states have to make their own regulations, and many of them do . . . some of them more than others. South Africa is a pretty good regulatory . . . Ghana is pretty good. Mozambique is working on it. So you have to depend on them to regulate it, and their own regulations concerning telecom, concerning mineral development . . . development of mineral rights, gas and oil rights, these are not insignificant or . . . peoples, nor are they unsophisticated peoples. So they’ll regulate it. The instability in Nigeria is very much a North-South instability and a tribal instability. And I must say that looking at the city of Lagos, it’s a huge, sprawling city. I’m frightened almost every morning that I’m gonna wake up and see it just exploding. In terms of U.S. money going in, it’s primarily been ___________ money. There are regulations concerning it. There are always funds that when we send funds overseas through our banks, etc., there is a look by our government of who the end user is. So I’m not as worried about U.S. money going to bad people as I am the governments of those various states not making the right use or making the right choices with the monies they have.