This "African Development" Thing Might Not Be So Simple

Posted 8:03 PM by JP in Labels: , , , , , , , ,
While this Cato Institute study makes several great points about African countries' need for market reforms and enforced checks and balances in government, this article in the Atlantic is not so rosy about much of the continent's economic development prospects, particularly in regards to China's recent investments.

“The problem is to determine what is Africa’s place in the future of the global economy, and up to now, we have seen very little that is new. China is taking the place of the West: they take our raw materials and they sell finished goods to the world What Africans are getting in exchange, whether it is roads or schools or finished goods, doesn’t really matter. We remain under the same old schema: our cobalt goes off to China in the form of dusty ore and returns here in the form of expensive batteries.”

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