Thursday, July 19, 2007

China's advice for Africa

A very interesting piece from Jeff Sachs on the recent meeting of the African Development Bank held in China. Notice the role of government in the development process.


Lucinda said...

Hi Professor, I'll continue reading your blog here from Brasil

Anonymous said...

the passage was very interesting and fascinating at the same time. world bank's failure to prevent the poverty, unemployment, famine etc. under wolfowit's leadership is saddening. china's success in its own economy and politics them to widen their objectives.(?)as mentioned in the text,china has lived most of the things (difficulties, conflicts...) that africa is now living.having an economy based on agriculture did not harm them but fed their economy which by the way a good example for Turkey as well whose economy is majorly besed on agriculture. anyway africa is now struggling to benefit from a great example which shared similar background. I hope china will not try to colonize africa while helping its people grow a better economy and a life style. Isil Tanyeri

Matt said...

I believe that one of the last statements in the article summed up thoughts on World Bank in saying “it must no longer be controlled by ideology.” It’s the narrow thinking involved with such systems that do not allow someone like Wolfowitz to consider applying basic structure to poverty ridden sectors of Africa. China has taken an interesting (and self proven) approach to Africa’s problems in focusing on the investment of basic info structure (agriculture, roads, power, health, and EDUCATION). As opposed to privatizing it like World Bank, and creating a whole new set of externalities which in turn may just cripple the African public even more. I guess time will tell.