Zimbabwe President Robert Mugabe has announced his intent to seize ownership of foreign-owned businesses. These companies will now be required to surrender at least 51 percent of their shares to the poor black population of Zimbabwe.

Such heavy-handed application of failed communist principles is the kind of thievery that has decimated Zimbabwe’s economy during Mugabe’s reign.

Author Stephen Bevan wrote in the Telegraph that there are signs Mugabe will use this law to “attack the commercial interests of countries such as Britain” while offering protection to his allies like China and Malaysia. Banks like Standard Chartered and oil companies like British Petroleum are at the top of the possible hit list.

In case anyone doubted the intent behind this law, Cabinet Minister Paul Mangwana left no room for speculation: “The objective is to ensure that black Zimbabweans take control of the economy and the resources of their country.” This thinking, which plays well to the staunchly anti-colonialist crowd, has been proven to leave in ruins everything it touches, leaving black Zimbabweans far worse off as a result.

Another cabinet minister said the program “must be undertaken in the same fashion as the land-reform program.” Said program has reformed Zimbabwe’s economy from thriving in the colonial era to a staggering 3,714 percent inflation rate today. Once the government starts seizing control of businesses, it is likely that many targeted businesses will simply leave Zimbabwe, tanking the economy even further—if such a thing is possible.

And where is the West? Despite President Mugabe threatening the interests of Western nations, still they will not stand up to this petty dictator in a meaningful way. The world has watched President Mugabe wipe out his people’s food production; leaders have watched as the government displaced landowners from their farms; now, we can count on the Western leadership to stand meekly by as President Mugabe seizes the businesses Westerners have built.

Nor will the West step in as President Mugabe’s principles metastasize to Zimbabwe’s South African neighbor, where farm seizures have already begun. For more information, please read our report from the May 2007 Trumpet.