a écrit le 15 décembre 2010 à 20h35 @ TOUS
"African Miracle" paru dans Foreign Policy (FNot so long ago, the world lamented its broken continent.
"The state of Africa is a scar on the conscience of the world," declared British Prime Minister Tony Blair in 2001 -- and his was a common refrain. Civil war, economic stagnation, and a high disease burden seemed irreversible, condemning the region to perpetual poverty.
A decade later, however, Africa has outgrown the gloom and doom. Far from the misery-stricken place so often portrayed, Africa today is alive with rising urban centers, a growing consumer class, and sizzling business deals. It's a land of opportunity.
More... Africa, in fact, is now one of the world's fastest-growing economic regions. Between 2000 and 2008, the continent's collective GDP grew at 4.9 percent per year -- twice as fast as in the preceding two decades. By 2008, that put Africa's economic output at $1.6 trillion, roughly on par with Russia and Brazil. Africa was one of only two regions -- Asia being the other -- where GDP rose during 2009's global recession. And revenues from natural resources, the old foundation of Africa's economy, directly accounted for just 24 percent of growth during the last decade; the rest came from other booming sectors, such as finance, retail, agriculture, and telecommunications. Not every country in Africa is resource rich, yet GDP growth accelerated almost everywhere.
Government reforms, greater political stability, improved macroeconomics, and a healthier business environment are now taking hold in a region long dismissed as hopeless. Inflation fell to an average of 8 percent in the 2000s after a decade during which it hovered at 22 percent. African countries have lowered trade barriers, cut taxes, privatized companies, and liberalized many sectors, including banking. Africa now boasts more than 100 domestic companies with revenue greater than $1 billion. And capital flows to the continent increased from just $15 billion in 2000 to $87 billion in 2007. With good reason: Africa offers the highest rate of return on investment of any region in the world.
Pockets of great risk and instability certainly remain, but the long-term trends look good. Global demand for commodities is rising, and Africa is well positioned to profit. The fastest-growing demand for these raw inputs comes from the world's emerging economies, with which sub-Saharan Africa now conducts half its trade. Africa's production of oil, gas, minerals, and other resources is projected to grow at 2 to 4 pe
"African Miracle" paru dans Foreign Policy (FNot so long ago, the world lamented its broken continent.
"The state of Africa is a scar on the conscience of the world," declared British Prime Minister Tony Blair in 2001 -- and his was a common refrain. Civil war, economic stagnation, and a high disease burden seemed irreversible, condemning the region to perpetual poverty.
A decade later, however, Africa has outgrown the gloom and doom. Far from the misery-stricken place so often portrayed, Africa today is alive with rising urban centers, a growing consumer class, and sizzling business deals. It's a land of opportunity.
More... Africa, in fact, is now one of the world's fastest-growing economic regions. Between 2000 and 2008, the continent's collective GDP grew at 4.9 percent per year -- twice as fast as in the preceding two decades. By 2008, that put Africa's economic output at $1.6 trillion, roughly on par with Russia and Brazil. Africa was one of only two regions -- Asia being the other -- where GDP rose during 2009's global recession. And revenues from natural resources, the old foundation of Africa's economy, directly accounted for just 24 percent of growth during the last decade; the rest came from other booming sectors, such as finance, retail, agriculture, and telecommunications. Not every country in Africa is resource rich, yet GDP growth accelerated almost everywhere.
Government reforms, greater political stability, improved macroeconomics, and a healthier business environment are now taking hold in a region long dismissed as hopeless. Inflation fell to an average of 8 percent in the 2000s after a decade during which it hovered at 22 percent. African countries have lowered trade barriers, cut taxes, privatized companies, and liberalized many sectors, including banking. Africa now boasts more than 100 domestic companies with revenue greater than $1 billion. And capital flows to the continent increased from just $15 billion in 2000 to $87 billion in 2007. With good reason: Africa offers the highest rate of return on investment of any region in the world.
Pockets of great risk and instability certainly remain, but the long-term trends look good. Global demand for commodities is rising, and Africa is well positioned to profit. The fastest-growing demand for these raw inputs comes from the world's emerging economies, with which sub-Saharan Africa now conducts half its trade. Africa's production of oil, gas, minerals, and other resources is projected to grow at 2 to 4 pe
