The Special Case of Africa
Africa is relatively stagnant in terms of trade, investment, and per-capita income. Africa’s GDP has improved little since the 1960s. The continent is afflicted by illiteracy, malnutrition, and poor sanitation and water supply. Unemployment is stubbornly high in many areas.42
However, several African countries are experiencing economic success, with annual GDP growth now approaching 5 percent per year. Ghana is becoming a regional hub for financial and technological services. Nigeria is enjoying a boom in oil and banking. Zambia is developing strengths in mining and agriculture. Tanzania is investing in major power generation projects.43 Africa is home to abundant natural resources including oil, natural gas, gold, ...
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