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Submitted by Edou on
"African countries are amongst the fastest growing countries in the world..., growth in Africa remains closely linked to the evolution of international commodity prices—oil, metals, and non-food agricultural commodities—which have remained generally buoyant". What will this growth look like in 2, 3 or 4 years, when these prices will fall? Please stop telling that african economies are in good shape just because the growth rates are at a substantial level. First ask the question who benefit from these prices going up? The US, or the French, or the English firms extraxting oil, metals and non-food agricultural commodities. I used to say "Africa doesn't produce oil, they (put for US, English, French firms) produce oil in Africa". Second, as long as we'll not produce enough food commodities or have an industrial basis, all these growth rates will be fake. Please read this http://www.economist.com/debate/debates/archive/page:2. It's clear that an economy cannot succeed without a big manufacturing base. Full stop.