Question by Akan: What do you conceive about the future of africa?
Africa has several of the fastest growing economies in the world right currently as well as are finally catching up to the developed world what do you conceive about the future of the continent? People were investing in Asia in the 80s as well as 90s as well as appear to be where they are currently. Do you conceive the similar is about to happen to africa?
Best answer:
Answer by People Persone
I conceive the world cup has had an impact on Africa because everybodys eyes were on it during the finals.
yea
What do you conceive? Answer beneath!
If they get rid of the numerous kleptocratic governments, the future would look better.
If I were a country,I would follow China everywhere in Africa. It is not the resources such as oil,diamond,mineral, but the great tourist destinations.The conflicts have been solved in many parts of the continent.It is just waiting for growth and African from other continents to go back home.
I hope it does. I really, really hope it does. I cannot make that clear enough. However there are a few caveats to this. African countries need:
Established property rights
- Even in China, where property rights are low, there is more that in some African states. Property rights allow people to invest and innovate without fear of losing their initial investment spending. People only invest and innovate when they can see a reward is possible. If this reward could be taken by theives, government, rebels then they will not risk it.
A stronger, more transparent legal system
-To discourage corruption which erodes the level of competition between companies and slows down innovation and improvements. It would also lead to a more stable economic and political climate.
Established and secure Governments
-To lower the risk of government collapse, nationalisation, tax/tariff changes.
Better infrastructure
-To lower the cost of transport and communication between companies and consumers.
Better healthcare and education
-To improve the number of available workers, who are skilled, to operate machinery for value added goods.
These will come in time. The longer it takes the larger the suffering and the more people that die unecessarily. Capitalism is such a cruel beast sometimes. In my opinion China will invest heavily in Africa, where the West is fearful of treading. Chinese money may help prop up tyrannical or questionable regimes but this may, in the long run lead to some of the conditions I have mentioned being fulfilled. Few would argue that China has a good government or that its people are free. However it has achieved economic progress. Perhaps the same will be true for Africa if the western world continues to ignore its plights.