Africa will be the new China
Africa as a continent if stands together and does not go back to the era of Civil wars and turmoils can be the next China, a country whose upliftment from a poor country where hunger takes the life of millions to world’s second largest economy is an enigma to many across the globe.
But before any such comparison, lets put an eye on the fact why Chinese growth is unique. Since industrial revolution, it was a common business trend that the poor mineral rich countries will provide raw materials to industrial world and in exchange to it will receive over-priced branded finished merchandise.
China changed this rule of the game. It flooded the global market with similar finished products cheaper in cost and affordable to most consumers who till date were not able to have those highly fashionable things. Later on China gradually converted itself to the production hub of the world where all the global giants were forced to open their manufacturing plants so that they can survive in this changing global scenario and adopt with it.
In this way China had done something so unique and in such a gigantic scale that it is unimaginable. What China had done in the phase of 1978–1991 is now followed by African nations in a smaller scale. The image below explains it all, its a comparison of Africa two decades ago and the new Africa now.
Related Posts
