The_Open_Door_deel1

XV
China at the end of the 19th century, served as a model for the
policy of the same name which the Liberian Government also wanted.
The Liberian leaders, however, did not succeed in obtaining the
political and diplomatic support of the United States, which country
they still considered their homeland even after the creation
of the Republic. For this reason, the idea of a Political Open Door
Policy slowly shifted to an Economic Open Door Policy.
The exploitation of the country's natural resourses was severely
hampered, if not prevented, by the lack of control exercised by
the Liberian Government over the rebellious tribes in the hinterland
and by the lack of ports. Only after these obstacles had been
removed was the road paved for the entry of foreign investors.
Shortly hereafter, the European colonial powers began the political
decolonisation of Africa, thus removing the need for a political
Open Door Policy,
Before the end of the Second World War, the only important foreign
investor in Liberia was the North American rubber company "Firestone
Tire & Rubber Company", which in 1926 had obtained an enormous
concession agreement from the Liberian Government. During the
1926 - 1951 period, Liberia's dependence on this company slowly
increased and was finally complete. For this reason the country
became colloquially known in this period as the "Firestone Colony".
This changed when iron ore production was begun in 1951. The mine
was exploited by another North American company, the "Republic
Steel Corporation".
In the following 20 years, the highly attractive investment facilities
offered by the Liberian Government, the abundance of natural
resources and the political and social stability caused an invasion
of foreign investors.
Since the arrival of foreign investors, Liberia has changed tremendously.
Before the arrival of Firestone, the monetary economy was
virtually negligible and, significantly, was found only in the
coastal areas. Even in 1950, one could hardly speak of "one country"
because of the separation between coastal areas and hinterland.
The two regions were separated by lack of roads and other
means of communication and even by different laws. The latter was
changed as late as the 196O's. The political power stayed, however,
in the hands of the Americo-Liberians.
In the 197O's the results of the Open Door Policy were impressive
at first sight: Liberia had the largest registered merchant fleet
in the world as a result of a flag of convenience policy. Liberia
had become Africa's_first _and the world's third exporter of iron
ore. The most important investors were giants of the North American
rubber industry: Firestone, Goodrich and Uniroyal. Important U.S.
industries in the steel sector such as Bethlehem Steel Corporation
and Republic Steel Corporation both have large investments in
Liberia's iron ore mines.
Within a period of 25 years, Liberia had succeeded in attracting
foreign investments exceeding 1 billion U.S. dollars, among which .
was the largest post-war Swedish investment abroad and the largest
West-German investment in tropical Africa.