Since the end of colonialism, Africa has seen three economic eras
The fourth era is just beginning Future growth will be complicated by
historical legacy
Economic Eras: 1940s-50s
Insatiable demand for raw materials
Economic Eras: 1940s-50s
Europe, Asia must rebuild after humanity’s most
destructive conflict
Economic Eras: 1940s-50s
Europe, Asia must rebuild after humanity’s most
destructive conflict
North American economies boom
European powers begin pullout from Africa
Failure to leave in place mature political systems causes
decline of economies, collapse of key industries.
decline of economies, collapse of key industries.
Infrastructure had largely been developed to suit needs
to colonial powers, not African nations
to colonial powers, not African nations
Slow, steady decay of infrastructure begins as
the West scrambles to harness Africa’s resources
the West scrambles to harness Africa’s resources
Economic Eras: 1960s-70s
US, Soviet Union fight proxy wars in Africa
Infrastructure hit by war — and by corruption fuelled by US USSR support for African regimes
Decline of global economy following oil crisis hits Africa particularly hard
Economic Eras: 1980s-2000s
War continues, famine sets in
Apartheid, genocide become global issues
Rest of world posts reasonably solid growth
Africa steadily becomes poorer compared to the rest of the world
NEPAD has had limited influence on economic development
Post a Comment