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Africa, the land of hope, sows the seeds for sustainable dev
2020-12-03 13:40:17
Africa, the land of hope, sows the seeds for sustainable development
December 10, 2013
Africa was once called the "Lost Continent", but due to its impressive economic growth in recent years, it has not become the focus of global attention. Now, the African continent has some fast-growing economies that are planting seeds to maintain the momentum of development in a sustainable manner.
African countries that previously relied mainly on foreign aid to enhance their national strength and lift their people out of poverty are considering new measures to stand up on their own feet to provide impetus for their own development. These countries have huge natural resources and abundant young labor. And vast land.
According to data from The Economist in 2011, 6 of the 10 countries that have grown rapidly in the past 10 years are in Africa.
The International Monetary Fund predicted in October that the economy of Sub-Saharan Africa is expected to grow by 5.0% in 2012 and 5.7% in 2013, stating that “Sub-Saharan Africa is expected to continue to grow strongly in the short term.”
The World Bank concluded in a report released this year: “Africa may be on the brink of economic take-off, just like China 30 years ago and India 20 years ago.”
African experts believe that the main driving force of Africa’s development is natural resources and urge the continent to improve its economic diversification in order to achieve sustainability.
Dr. James Oruko, a lecturer in development studies at Egerton University in Kenya, said that a sustainable economy is growing and can withstand internal or external shocks.
"This is an economy supported by social stability. Whether it is external demand or internal demand, this is an economy that has demand for products and services." He said, adding that the economic management of the African continent has improved and that Africa is in The stage of building a sustainable economy.
Receiving aid used to be the concept of African development. However, this kind of aid seems to only make the African continent more debt, more prone to inflation, and more susceptible to the economic conditions of the source countries of the aid.
The global economic crisis severely hit Western economic giants, forcing them to reduce aid to Africa. This brings risks to the African continent. However, the region has shown its ability to withstand economic turmoil.
Analysts say that African countries have realized the importance of sustainable self-development and are therefore trying to get rid of the old development model. The average external debt of the African continent has increased from 2000
The year’s GDP fell from 63% to 22.2% in 2012. Due to its rapid growth and optimistic economic outlook, the continent is becoming a destination for trade and investment.
The export of bulk commodities has promoted the rapid economic growth to a certain extent. About a quarter of Africa’s growth comes from increased income from natural resources.
James Oruko (James Oruko) said that one of the main drivers of current development in Africa is resource-oriented growth. "Commodity prices have been high for a long time, and this is vital to Africa."
From 2009 to 2010, the total trade volume between the United States and Sub-Saharan Africa increased by 32%. U.S. imports from the region increased by 39%, mainly crude oil and minerals.
China-Africa trade has grown from USD 10-B in 2000 to USD 166-B in 2011, making China a trading partner of Africa.
Foreign investment has also been growing, because investors from the United States, Europe, China, Japan, India, Brazil, and Russia are all watching the huge opportunities in emerging markets, their stability continues to improve, and their population continues to grow. Since the beginning of the 2000s, foreign direct investment in Africa has been growing, increasing by five times in the 2000-2010 fiscal year.
According to Chinese data, as of April this year, China's total direct investment in Africa was US$1.53 billion, up from less than US$500 million a decade ago.
The United States is also eager to enter Africa's fast-growing market. Earlier this year, Wal-Mart’s New York Stock Exchange: WMT completed a transaction worth more than US$2-B to acquire 51% of South Africa’s leading retailer MassMart. Currently, about 600 American companies invest in South Africa.
The development momentum of African countries is also accompanied by the acceleration of regional integration. Sub-Saharan African countries are seeking partnerships with neighboring countries. With the reduction of tariffs and the elimination of trade barriers, cross-border trade, which has long been suppressed by competition, is growing.
As a result, the volume of trade in Sub-Saharan Africa was about 15%, compared with 1990
Only 7% at the beginning of the year. Experts believe that current resource-led growth is not a sustainable path, because development may be an environment at the expense of making the African continent vulnerable to fluctuations in the commodity sector.
Recognizing this challenge, Africa held the two-day Africa Sustainable Development Summit in May. This is a summit on the African continent and a milestone effort to establish a new development roadmap and partnership. Sustainable development points the way. mainland.
African countries have agreed to a series of specific principles and development goals that have shifted the value of natural capital from the periphery to the center of development plans.
Liberia’s President Ellen John Sirleaf said at the summit: “The state of global trade is that countries that rely solely on exports of'natural capital' are facing challenges when trying to set an agenda for dialogue.”
"We recalled the unexpected example in Libya in the 1970s, when the price of iron ore fell from US$600 to less than US$100, while the price of crude oil rose from US$15 to US$75 per barrel. Facing the reality of the free market system Liberia has no choice but to dig more iron at the cost of abusing our environment," the president said.
"We have left large craters and artificial lakes in our landscape. There are not many other things to show... As the deflation of iron prices has affected our timber, gold, diamonds and fisheries, our economic growth has declined even more. . ," she says.
Dr. Gerishon, lecturer in international economics at the University of Nairobi, said that the main way to achieve sustainable development is through economic diversification. "The African continent needs to improve the field of industrial development in order to add value to its raw materials."
December 10, 2013
Africa was once called the "Lost Continent", but due to its impressive economic growth in recent years, it has not become the focus of global attention. Now, the African continent has some fast-growing economies that are planting seeds to maintain the momentum of development in a sustainable manner.
African countries that previously relied mainly on foreign aid to enhance their national strength and lift their people out of poverty are considering new measures to stand up on their own feet to provide impetus for their own development. These countries have huge natural resources and abundant young labor. And vast land.
According to data from The Economist in 2011, 6 of the 10 countries that have grown rapidly in the past 10 years are in Africa.
The International Monetary Fund predicted in October that the economy of Sub-Saharan Africa is expected to grow by 5.0% in 2012 and 5.7% in 2013, stating that “Sub-Saharan Africa is expected to continue to grow strongly in the short term.”
The World Bank concluded in a report released this year: “Africa may be on the brink of economic take-off, just like China 30 years ago and India 20 years ago.”
African experts believe that the main driving force of Africa’s development is natural resources and urge the continent to improve its economic diversification in order to achieve sustainability.
Dr. James Oruko, a lecturer in development studies at Egerton University in Kenya, said that a sustainable economy is growing and can withstand internal or external shocks.
"This is an economy supported by social stability. Whether it is external demand or internal demand, this is an economy that has demand for products and services." He said, adding that the economic management of the African continent has improved and that Africa is in The stage of building a sustainable economy.
Receiving aid used to be the concept of African development. However, this kind of aid seems to only make the African continent more debt, more prone to inflation, and more susceptible to the economic conditions of the source countries of the aid.
The global economic crisis severely hit Western economic giants, forcing them to reduce aid to Africa. This brings risks to the African continent. However, the region has shown its ability to withstand economic turmoil.
Analysts say that African countries have realized the importance of sustainable self-development and are therefore trying to get rid of the old development model. The average external debt of the African continent has increased from 2000
The year’s GDP fell from 63% to 22.2% in 2012. Due to its rapid growth and optimistic economic outlook, the continent is becoming a destination for trade and investment.
The export of bulk commodities has promoted the rapid economic growth to a certain extent. About a quarter of Africa’s growth comes from increased income from natural resources.
James Oruko (James Oruko) said that one of the main drivers of current development in Africa is resource-oriented growth. "Commodity prices have been high for a long time, and this is vital to Africa."
From 2009 to 2010, the total trade volume between the United States and Sub-Saharan Africa increased by 32%. U.S. imports from the region increased by 39%, mainly crude oil and minerals.
China-Africa trade has grown from USD 10-B in 2000 to USD 166-B in 2011, making China a trading partner of Africa.
Foreign investment has also been growing, because investors from the United States, Europe, China, Japan, India, Brazil, and Russia are all watching the huge opportunities in emerging markets, their stability continues to improve, and their population continues to grow. Since the beginning of the 2000s, foreign direct investment in Africa has been growing, increasing by five times in the 2000-2010 fiscal year.
According to Chinese data, as of April this year, China's total direct investment in Africa was US$1.53 billion, up from less than US$500 million a decade ago.
The United States is also eager to enter Africa's fast-growing market. Earlier this year, Wal-Mart’s New York Stock Exchange: WMT completed a transaction worth more than US$2-B to acquire 51% of South Africa’s leading retailer MassMart. Currently, about 600 American companies invest in South Africa.
The development momentum of African countries is also accompanied by the acceleration of regional integration. Sub-Saharan African countries are seeking partnerships with neighboring countries. With the reduction of tariffs and the elimination of trade barriers, cross-border trade, which has long been suppressed by competition, is growing.
As a result, the volume of trade in Sub-Saharan Africa was about 15%, compared with 1990
Only 7% at the beginning of the year. Experts believe that current resource-led growth is not a sustainable path, because development may be an environment at the expense of making the African continent vulnerable to fluctuations in the commodity sector.
Recognizing this challenge, Africa held the two-day Africa Sustainable Development Summit in May. This is a summit on the African continent and a milestone effort to establish a new development roadmap and partnership. Sustainable development points the way. mainland.
African countries have agreed to a series of specific principles and development goals that have shifted the value of natural capital from the periphery to the center of development plans.
Liberia’s President Ellen John Sirleaf said at the summit: “The state of global trade is that countries that rely solely on exports of'natural capital' are facing challenges when trying to set an agenda for dialogue.”
"We recalled the unexpected example in Libya in the 1970s, when the price of iron ore fell from US$600 to less than US$100, while the price of crude oil rose from US$15 to US$75 per barrel. Facing the reality of the free market system Liberia has no choice but to dig more iron at the cost of abusing our environment," the president said.
"We have left large craters and artificial lakes in our landscape. There are not many other things to show... As the deflation of iron prices has affected our timber, gold, diamonds and fisheries, our economic growth has declined even more. . ," she says.
Dr. Gerishon, lecturer in international economics at the University of Nairobi, said that the main way to achieve sustainable development is through economic diversification. "The African continent needs to improve the field of industrial development in order to add value to its raw materials."
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