Africa & The Contemporary World Response

The Economist‘s “Africa Rising – the Hopeful Continent” article presents an interesting inquiry into the potential for the poorest inhabited continent on Earth to grow and transform in the midst of seemingly positive trends in many of its constituent states. Some people decried the publication’s neoliberal bias, and have since proposed solutions that favor the economic left. Yet evidence exists in this article and beyond that is suggestive of an Africa that could benefit equitably and to a greater extent through expanding markets, trade, and investment – decidedly capitalist concepts. The key would be to make them investment-positive and enticing for their potential role in a global economy; however, they must find stability and ensure that they are not dominated by foreign enterprises that do not benefit the African nations themselves in a colonialism-esque fashion. Socialism and its varied flavors of the day have tried and failed, despite initial optimism, to make change to Africa’s economic situation. These failed endeavors were not bolstered by misguided efforts of foreign nations to pour capital into the continental economy and hope that it will be equitably distributed through governmental and perhaps extra-governmental efforts. It would seem that Africa is ripe for investment and market-driven growth. Still, this in a vacuum would be unlikely to stimulate change on a supranational level, and given the history of strife and poverty plaguing the continent at large, it is ill-advised to put all of one’s faith into a single economic model to bring about badly-needed economic aid to Africans.

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