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Wednesday, 15 April 2020

Can Africa imitate China’s rapid development?

Can Africa imitate China’s rapid development? Africa could harness its manpower and natural resources to generate massive economic growth, the Economist reports (watch, runtime: 15:36). Among the options on the table: rapid industrialization (like China) or by investment in services such as IT and “industries without smokestacks,” such as horticulture.

Either way, African countries will need to prioritize technology, improving infrastructure and reducing the impact of climate change, as well as good governance, job creation, and girls’ education. Modernizing farming — an industry that generates only 15% of Africa’s GDP, despite being the source of employment for half the continent — would increase yields, helping to feed rising populations and freeing workers to seek better paying city jobs. Better educated women would have fewer children, stabilizing population growth. And if women entered the workforce at the same rate as men, Africa could add 10% to its GDP over the next five years.

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