Is Africa the New Asia?

America, Europe, Africa, Asia signpost

America, Europe, Africa, Asia signpost

Martyn Davies, managing director for emerging markets and Africa at Frontier Advisory Deloitte, thinks there is a chance that Africa could be the next Asia as far as economic growth is concerned, but:

“Africa’s notoriously non-inclusive growth model must adapt, and adapt fast, in order for real economic transformation to take place. Countries will need to deepen their economies through diversification and those that are able to achieve this will move towards a more qualitative and ultimately sustainable growth trajectory. This has been the story of Asia over the past three decades. Africa’s tilt toward Asia has been up until now a reflection of the direction of trade and flow of trade between the two regions. There are however, deeper lessons in sustainable growth and developmental that Asia presents to Africa’s frontier economies.”

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“Will Africa follow Asia’s developmental growth trajectory?”: http://www.howwemadeitinafrica.com/will-africa-follow-asia-developmental-growth-trajectory/55137/

 

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