Integration will save Africa, but it has to work somewhere first
The example of East Africa demonstrates the pitfalls for greater internal trade on the continent, write Tony Carroll and Patrick Benn
At the beginning of each year there is the usual round of predictions of political change and economic growth. This year is no exception, especially with the reality of Brexit, a Trump administration and the prospect of a Le Pen election in France. With regard to US President Donald Trump, many media pundits and academics are predicting a de-emphasis of US engagement in Africa. While it is too early to assess the accuracy of such predictions, it is likely Africa will have to generate its own economic growth and institutional structure and not rely upon development assistance, preferential trade deals and risk-mitigating instruments such as export credit guarantees and political risk insurance. Borrowing from the experience of East Asia, conventional wisdom dictates that regional integration is a proven means to accelerate similar homegrown economic growth in emerging markets and to integrate with global value chains, the dominant feature in global trade. In response to such trends, ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.