Financial Crisis Is Good News For Africa
Dambisa Moyo, Author | February 2, 2009
The global economic crisis is in fact good news for aid-dependent Africa. ++ It is an opportunity for the continent to move towards the market-driven interventions which have enabled the rise of Brazil, India and China. ++ “Foreign aid has been the biggest single inhibitor of Africa’s growth,” fostering corruption, dependency and bureaucracy. ++ Focusing on the Chinese market is a first step. ++ As Western donors struggle to provide funds, an opportunity presents itself for new approaches geared towards long-term growth.
Tags: | development |
China-Africa relations |
financial aid |
Economic crisis |
financial crisis |
aid dependence |
aid |
African aid |
African economy |
Africa |