Africa is the key to sustained global growth

More than 50 years after decolonization, the West still regards Africa as a supporting player in the global economy: a source of raw materials and little else. This outdated view has hampered Africa’s development of high-value manufacturing industries and integrated supply chains, impeding economic growth. As a result, disparities in per capita income between Africa and other regions have increased and the continent’s share of global trade has fallen below 3 percent, even though Africa accounts for almost one-fifth of the world’s population.

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