The things that worked for China will not work for Africa.

In its attempts to industrialize, Africa has looked toward China’s success. China designed and executed a policy that shrank the industrialization process time in a mere 25 years — something many economies took at least a century to do. That redesign has brought immense dislocation in global commerce and industry, enabling China to become one of the world’s leading economies. African leaders have been pursuing policies designed to mimic China’s path. But despite these efforts, Africa has yet to advance in its industrialization at the same speed China did.

Put simply, the things that worked for China will not work for Africa.

Africa must change its focus: It must encourage internal consumption and intra-trade, push forward the African Continental Free Trade Agreement, create a single African currency, improve infrastructure, and invest in education.

why africas industrialization won’t look like chinas

 

Presented by Romano Pisciotti

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