China designed and executed a policy that shrank the industrialization process in a mere 25 years — something that many economies took at least a century to do. That redesign has brought immense dislocation in global commerce and industry, enabling China to become one of the world’s leading economies.
Continue reading on click -Harvard Business Review.
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Well written. The only point missing is that of authentic decolonisation, because at the moment, Africa is still being colonised in several ways, both psychologically and physically.
We remain the only continent that still requires endorsements from other nations outside our continent, before we move forward on every agenda. This is 2019, and Africa is yet to have independence of mind.
We keep looking outside for inspiration and guidance, and those we look up to keep using us to advance their own agendas. We have to look inward, we have been abysmal in that regard.
It is only when we win the mind game that we can in confidence architect industrialisation and knowledge economy in ways that breath and live African!
Great Piece Prof!
Congratulations on bringing back the continent to the global spotlight and at one of the highest levelsof scholarship i.e. HBR.
I fully agree that Africa is not China, and would never be no matter how much Chinese investments pour into that continent.
However, I am doubtful of the viability of a single currency for Africa. With the fragmented socio-economic landscape and highly restricted freedom of movement of factors of production – key precursors to a monetary union – neither going forwards nor backwards.
From my education and training customs unions (according to Jacob Viner) is a progressive phase from loose to full integration in the following order: FTA (troubled NAFTA divided by that Wall), Customs Union, Common Market, Economic (monetary) Union (hmmm that “B” word awaiting Halloween), and Political Union (e.g. the defunct USSR). As far as I know the African Union is neither man nor beast. Is it an FTA (whatever AfCFTA aspires to become)? Customs Union (as implied in the label)? Common Market (which it clearly isn’t)?
To sum up my pessimism… just think about the wanton destruction of lives and properties and the xenophobic attacks in SA (ironically hosting the WEF)… and its message to the rest of thw world.
Don’t cry for me Africa…