The world has changed. African countries must rethink how they grow their economies
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Disruptions in the Strait of Hormuz have exposed how vulnerable African economies are to geopolitical shocks, The Conversation Africa reports. Six countries — Ethiopia, Kenya, Mozambique, South Africa, Tanzania, and Uganda — depend heavily on Middle Eastern fuel, and elevated prices are straining their industrialization plans. The traditional development path that worked for East Asia — moving workers from subsistence farming into manufacturing jobs — is no longer viable for Africa: automation has eliminated the low-skill factory jobs that once drove growth, China still dominates low-wage production, and global trade has become a geopolitical weapon. To create millions of productive jobs, African countries need to integrate their markets, invest in reliable electricity, and develop industries around their natural resources and agricultural advantages.
Source: https://theconversation.com/the-world-has-changed-african...
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