http://www.economist.com/news/leaders/21572773-pride-africas-achievements-should-be-coupled-determination-make-even-faster
The poorest continent in the world, Africa, is quickly growing and is now the fastest growing continent. Life expectancy is on the rise, HIV infections are down, and foreign direct investment has tripled. Their GDP is currently growing at about 6%, which is great, but may not tell the whole story. Although there is much more wealth in Africa recently, it is not widespread and many individuals are still suffering with hunger. While it looks as if the close future is promising for Africa, they will need to focus on breaking down their boarders for more productive trading and building infrastructure if they wish to continue progressing.
Most of Africa's economy is built upon the trading of commodities, and it's a volatile situation because currently commodity prices are very high and the dramatic changes in climate aren't helping at all to allow for some stability within this sector of the industry. Having said that, the people are willing to work for improvements and they are relying less on government officials which could be beneficial in the long run, not just for the economy, but the people as a whole.
ReplyDeleteI can see how the climate changes negatively effects the trade from Africa, but other than natural causes, on paper their economy does look promising and like it is headed in the right direction. Now whether that is the exact case, I don't know, but from where we are standing it looks good.
ReplyDeleteIt is nice to see that Africa is rapidly growing. Businesses need to take advantage of this huge market that has a lot of potential to be lucrative. I know PUMA has a strong presence in Africa and they are expanding all over Africa. They also sponsor many national teams for soccer which shows they support the continent and have a strong presence there. This is just an example of a company that has recognized this great opportunity to make some good money.
ReplyDelete