Africa after the 2008 Global Recession
Mar 12, 2012
Much of the development throughout the African continent for the past several decades was fostered through the presence of NGO's and foreign aid. The 2008 Global Recession resulted in dramatic cuts in the aid from richer states. As developed states were focused on domestic economic recovery aid dropped precipitously. Today, four years later there has been a dramatic shift as the business leaders. Africa is in the midst of a potential economic resurgence, fueled by Africans. There is an increasing will to see Africa compete in the globalized economic game. Africans are looking to steer their own course as a viable economic competitor in the globalized world. Africa has the challenge of undemocratic governments, corrupt leaders, and resource imbalances. But there are signs of change. In support of these changes, NGO's and the distribution of foreign aid must adjust to the growing will of self-determination. But a further challenge will be the competition for the resources and emerging economies between large investors. China has already targeted governments through lucrative contracts for resources. China has invested in infrastructure gaining a foothold in emerging markets. Former Prime Minister Tony Blair has called for a new relationship between the rich and poor states through his "Africa Governance Initiative". The United States would be forward-looking to alter its relationship with the African states so as to pave the way for economic partners to emerge. The people of Africa are in need of education, training, and technology. Economic investment on the basis of partnership, instead of donor aid, is the future for Africa. To learn more about the Africa Governance Initiative go to: http://www.africagovernance.org/africa
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