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NC State Extension Economist Dr. Mike Walden – “Is Africa the Next Economic Superstar?”


Mary:  I’m Mary Walden with economist MW welcoming you to the economic perspective.  Today’s program asks if Africa is the next economic superstar.  Mike, when most people think of countries or regions of the world that have rapidly been expanding their economy, they think of China, India, and Southeast Asia. But I understand the continent of Africa is now on this list.  Why?

Mike: Summary Answer

  1. Natural resources – tremendous quantities
  2. People – one of few areas of the world where population growth is still good and depopulation is not on the horizon – as it is in China – so large consumer market there
  3. Labor force – as a result, labor force is expected to grow in upcoming decades to be larger than labor force in China or India
  4. Investment – foreign companies are investing heavily
  5. Technology – allowing African markets to be connected to world markets
  6. I’m MW

Mary:  And I’m Mary Walden for the North Carolina Cooperative Extension Service