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A tale of two Africas

January 15, 2009

Good news and bad news for Africa from the latest take on global risks from the World Economic Forum. Not much danger for most of the continent, it says, from an asset bubble burst. That’s the good. The bad, of course, is that this is because there are not many financial assets to bubble. In fact, it deems the overall exposure even to economic risks is small because African economies are not particularly tied in to global markets.

Actually, the report shows that there are two Africas. Mapped by their susceptibility for economic and asset bubble trouble, most African countries are bunched together in a low risk range. But another, smaller cluster, including Nigeria and South Africa, finds itself in much more peril and shares space on the WEF risk map with Western and Eastern Europe.

Good news, in a contradictory sort of way.

Comments

The usual propaganda from the West, they always right what they like to hear and pleases their white readers.

Africans don’t believe in no “world forum” those suckers do nothing but support and finance rebels throughout Africa to create rifts and problems.

We don’t care about no “world economic crisis” we were always in that position, we been at the bottom and back, every year.

Only places controlled by whites should be concerned.
I think Africa should learn from China, and attract investors from the Gulf of Arabia specially United Arab Emirates, all Africans should kick out all the Western firms and westerners and slowly replace them with Arabs and Asians and if they dont live up to the standards they too should be replaced.

Now we have competition between the West, Asia and Arabia, Africa lets play out cards right.

If you have to kick the Westerners out, go ahead.

Posted by Somali | Report as abusive
 

This appears to be a great start to an article but for someone not particularly informed on the topic, it doesn’t provide me a lot of detail on what the actual risk profile for the African countries are.

Posted by Ade | Report as abusive
 

Somali, if one follows your logic that means North America should kick out the Africans. Sorry, that doesn’t make any more sense than you wanting to kick out all the whites.

I agree with you regarding trying to increase Chinese investment because they are more pragmatic than the west and won’t interfere with social and democratic goals which many African leaders don’t want. The do gooder lefties in the west shouldn’t pressure western companies to have social contracts where they operate and just let them be pragmatic like the Chinese.

Cheers Somali, have a wonderful day.

Posted by buffalojump | Report as abusive
 

Not so surprising as most of African countries do not have stock markets, but are heavily dependent on international financial institutions handouts to survive. These financial institutions are constrained by the crisis and this is where the whole Africa is affected as credit can’t be obtained.

 

I strongly disagree with the first writer, Somali- if that is his or her name for real- because western companies are not the cause of African’s problem. If you want to know who is/are the root of our problem in Africa, I would advise you to critically look at the rulers/leaders of Africa. Our presidents and their entourages are our continent’s problem. They consistently squander our wealth and natural resources. Embezzlement, corruption, and favoratism are the tools commonly used by these leaders to kill our nation.
On the other hand, these leaders go oeverseas and beg for money in the form of loans and development projects, which all end up in their pockets; leaving our children to starve and linger in poverty. Thus, who is going to save us and our wonderful continent, Africa? Please tell Mr. or Mrs. Somali to open his/her eye. Is it the whitemen’s firms or your government, our so-called leaders? We need to wake up and reform Africa. Stand up against corruption, embezzlement, and other vices within every corners of our sweet motherland.
Moreover,we Africans need to shoulder responsibility and come up with a viable system that could enable in planning our countries in Africa effectively and effeciently. Look at the U.S.A and other well-developed nations around the world! They work hard to get to where they are today. They did not just get rich over night; they embrace foreigners and foreign investors and companies, otherwise they wouldn’t have gotten to that level of economic and social improvements(development) they are now. Come on, Somali, reason and enrich your mind with the modern time we are in. We are no longer in the 19th century or 20th; this is the 21st century, baby! Stop blaming the whitemen and his companies- give them a break!
Also, competition builds the world and drives the world’s economy. Somali, I think it is hard time you majored in Economics at any affordable college or university in order to better understand how this world and its business works. Take a time off from your old African mentality that the whitemen are our problem. Please start focusing on people like Mogabe,Conte (late), Mabutu(though late as well), and Bongo together with many other corrupt leaders unmention so as to estimate how backward they have taken our nations and their negative impact on the continent as whole. These folks have tarnished our reputations as African, and I hope you are not one their supporters back home.
I hope your you understand all what I am trying to convey in the short article. Loosen your mind, Somali, and freely think for yourself. Bye, bye, and wish to hear from you again.
Last but not the least, Somali, I hope you create your own company in order to compete with the so-called “Western firms” in the global market, instead of ctriticising.

Posted by Mr. Sheriff | Report as abusive
 

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