Friday, January 7, 2011

Chart of the Day

. Friday, January 7, 2011

We are rightly concerned about the economic doldrums in the U.S. and Europe, but we shouldn't forget that elsewhere progress marches on. Via the Economist, which adds:

MUCH has been written about the rise of the BRICs and Asia’s impressive economic performance. But an analysis by The Economist finds that over the ten years to 2010, six of the world’s ten fastest-growing economies were in sub-Saharan Africa. On IMF forecasts Africa will grab seven of the top ten places over the next five years (our ranking excludes countries with a population of less than 10m as well as Iraq and Afghanistan, which could both rebound strongly in the years ahead). Over the past decade the simple unweighted average of countries’ growth rates was virtually identical in Africa and Asia. Over the next five years Africa is likely to take the lead. In other words, the average African economy will outpace its Asian counterpart.


Anonymous said...

this might not last for long for african countries if this growth is based primarily on oil or other commodities that are highly volatile, given the political institutions of these countries and how they tend to mismanage their economies.

Chart of the Day




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