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What It Takes for Trade to Reduce Poverty in Africa

Otaviano Canuto's picture

Despite tremendous progress in poverty reduction over the last two decades, poverty still persists. Along with South Asia,  Africa is a region where large numbers of people continue to live in extreme poverty. It is also a region where there is clearly room for higher foreign trade levels (see Chart). Given that trade can generate growth – and thus poverty reduction – focus on trade-related reforms (e.g. lower tariffs, better logistics, and trade facilitation)  deserves to be a high priority of the region.

Trade: The World Is Not Flat Yet

Otaviano Canuto's picture

Thomas Friedman’s bestseller The World Is Flat highlights the strong forces pushing the world towards a single economic platform. The technology-fueled globalization in the provision of services, and the widespread organization of production processes as global value chains are part of his narrative.