Sorry, But Africa’s Rise Is Real.

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Sorry, but Africa’s Rise Is Real – By Charles Robertson and Michael Moran | Foreign Policy.

Voters register in rural Kenya.

 

”For years,whenever economic or financial news from Africa managed to wangle its way through the tales of genocide,famine,and catastrophe spun by western correspondents,the response of pessimists has been to write off all growth on the continent as a crude commodity play.” In a retort(Click on the link provided above) to Rick Rowden’s article –The Myth of Africa’s Rise, apparently exploring why the rumours of Africa’s explosive growth have been exaggerated, Renaissance Capital’s Charles Robertson  and Michael Moran reckon that Rowden makes miscalculations in discounting Africa’s rise.That dismissing Africa’s prospects for growth and comparing it with East Asia today is tantamount to comparing Germany in 1840 with Victorian England at it’s height and saying Germany will never amount to anything.Personally,I opine and indeed as development pundits have it that,development is a problematic concept to define and as such Rowden’s view (development is essentially industrial growth) is just but one of the many takes on development.”Africa Rising”,”Africa’s Century’‘ and many other headlines on Africa’s development prospects  are not mere narratives as some intellectual pessimists and cautious optimists claim.Using adult literacy data provided on 51 African country profiles in the December 2012 – January 2013 issue of The Africa Report (http://www.theafricareport.com ),save for Djibouti,Somalia and the Republic of Congo,Africa’s percentage adult literacy averages 66%.  IMF predicts a 5.3% continued economic growth for Africa.This, experts say will continue to attract investment and particularly so if the US and the euro zone continue to face economic woes.

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