African And China Essay

994 words - 4 pages

CHINAFRIK – AFRICA'S ECONOMIC MODEL AND BLUEPRINT FOR DEVELOPMENT.
CHINAFRIK as a concept is defined as ''the process wherein developing states in Africa adopt economic measures from China and localize such measures for their respective development.
While the developed countries of the world worry over the management of technological breakthroughs and volatile economic landscapes, many developing and underdeveloped nations are cringing in poverty, hunger and starvation, woeful health conditions, high maternal and child mortality rates, energy crisis, youth restiveness, and high incidences of corruption, among others.
Most Africa countries, unfortunately, find themselves in the latter categories. The failure of African nations to develop and match such countries as the Asian Tigers, who started the race to nationhood with us, is essentially a leadership problem, a self-imposed crisis of underdeveloped psyche that makes our leaders enslaved to primordial instincts. They focus on power acquisition as a means to self aggrandizement; undoing and sometimes, complete elimination of perceived enemies.
Consider a report by GOLDMAN SACHS: The rise of the BRICs(Brazil, Russia, India and China). Goldman Sachs had to say in its original report, ''Dreaming with BRICs: The path to 2050,'' published in 2003; that: China's economy will surpass Germany in the next few years, Japan by 2015 and the United States by 2041. India's growth rate will be the highest – not China's- and it will overtake Japan by 2032. Taken together, the BRICs could be larger than the United States and the developed economies of Europe within 40years.
According to the Goldman Sach’s report, the economy of China overtook Germany's a year earlier than expected, and has already overtaken Japan's by July 2010. It is now believed that the Chinese economy will overtake the United States by 2027. And with India accounting for 10 of the 30 fastest growing urban areas in the world and 700 million people moving to cities by 2050, its influence on the world economy will be bigger and quicker than was implied in 2003 (source: Wikipedia).
Closely following the BRIC prediction is the 2004 Report on the NEXT ELEVEN (N-11), in which Nigeria is included among eleven nations also warming up to assert themselves in the global economic map. While China overtakes the United States as the greatest economic power in the world by 2047, Nigeria would become the 20th largest economy by 2025 and the 12th by 2050 ahead of G-7 giants, Italy and Canada.
Of interest to me is that the BRICs have gone through abject poverty, but armed with a strong demographic profile, vast natural resources and an adjusted purposeful leadership with vision, have asserted themselves in the new economic order where demography has become a major factor in a world of competitiveness. They planned for it, made it work and today are economically challenging the G-7 nations. The same story can be an economic reality for Africa if...

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