In the face of the negative consequences of globalization on the economy and society in the continent of Africa; what can African policy makers do to disengage from the World Economy? Using the case of tanzania, what policy options are feasible to achieve Africa’s economic development?
Do african nations necessarily want to disnegage from the world economy? Last time I checked, Tanzania’s exceptional economic growth durring the past 4 years of so is do to booming demand for their minning and farm goods.
Economic growth, adjusted for inflation has been 6.8% and 7.3% for 2006 and 2007, respectively. Compare this to the western world that had averaged between 2.5% and 3%.
That wouldnt have happened if they were not trading with other nations. Look at China, Indonesia, India, Malayia, Korea, Singapore and so on. All of these countires were going nowhere befroe they engaged global trade. Now they are all booming. In China alone, it is estimated that between 200 and 400 million Chinese have been lifted out of poverty since they started openign up to the global economy in 1979.