Newscast Media BANGKOK—African states dream of emulating the Asian tigers and
become industrialized nations as soon as possible. But experts say that the so-called
“African lions” need more than high growth rates to achieve their goal.
The economies of Sub-Saharan Africa are booming. The World Economic Forum
estimates the economic growth rate of the region to be more than 5 percent in 2014;
growth in some countries, such as Nigeria and Ghana, is expected to be even higher.
Nigeria is now Africa’s biggest economy.
Affluent and consumer-oriented upper classes have emerged in many big cities, where
glass office towers dot the landscape. CONTINUE TO FULL STORY>>
Newscast Media BEIJING—China has spread its tentacles into Africa. The U.S. is
extremely nervous…and rightfully so. U.S. Vice President Joe Biden is currently in
China trying to slow the Chinese down. Yet Africans have openly embraced the
Chinese due to their “hands off” approach on Africa’s domestic affairs.
The no-strings-attached loans being extended to the Continent by their newly-found
Asian friends are a lot more appealing than the U.S. dollars that the West dangles like
a carrot in the faces of Africans, with pre-conditions attached.
Africa is rising. The economies are booming. Even the native African doomsday sayers
who are paid to paint a negative picture about the Motherland have run out of dismal
articles to write about the Continent, because the transformation is self-evident.
CONTINUE TO FULL ORIGINAL STORY>>