{"id":15718,"date":"2012-10-19T06:07:03","date_gmt":"2012-10-19T04:07:03","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/column-africa-the-next-economic-tiger-chrystia-freeland\/"},"modified":"2012-10-19T06:07:03","modified_gmt":"2012-10-19T04:07:03","slug":"column-africa-the-next-economic-tiger-chrystia-freeland","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/column-africa-the-next-economic-tiger-chrystia-freeland\/","title":{"rendered":"COLUMN-Africa: the next economic tiger?-Chrystia Freeland"},"content":{"rendered":"

\t\t<\/span><\/p>\n

<\/span><\/p>\n

<\/span><\/p>\n

By Chrystia Freeland<\/p>\n

<\/span><\/p>\n

NEW YORK<\/span> Oct 18 (Reuters) – If you are looking for some
\ngood cheer in a pretty gloomy world, consider the growing
\nconsensus among some of the world’s smartest money that the next
\nbig emerging market may be Africa.<\/p>\n

<\/span><\/p>\n

Above all, that is great news for Africans: As we have seen
\nacross so much of Asia, economic growth has accomplished what
\ndecades of well-meaning development efforts failed to do,
\nlifting hundreds of millions out of poverty. If that happens in
\nAfrica, the world will be transformed.<\/p>\n

<\/span><\/p>\n

This case for Africa as the world’s new economic tiger is
\nmade forcefully in “The Fastest Billion: The Story Behind
\nAfrica’s Economic Revolution,” a data-packed collection of
\nessays to be published at the end of this month and brought
\ntogether under the aegis of Renaissance Capital, an investment
\nfirm with Russian roots and global ambitions.<\/p>\n

<\/span><\/p>\n

The consensus view among many students of the global economy
\nis that investment decisions are about choosing, in the words of
\nMohamed A. El-Erian, chief executive of the fund manager Pimco,
\n“the cleanest dirty shirt”: The United States faces a fiscal
\ncliff and political gridlock, Europe is tenuously poised between
\nyears of painfully slow growth and outright collapse, and even
\ngo-go China is slowing.<\/p>\n

<\/span><\/p>\n

By contrast, in the view of Stephen Jennings, the
\nRenaissance chief executive, Africa is on a tear. “It is the
\nonly region in the world where growth is accelerating,” he said
\nby phone from Moscow. “If you strip out South Africa, the rest
\nof the region is actually growing very, very quickly.”<\/p>\n

<\/span><\/p>\n

Jennings says he believes Africa is following the path to
\neconomic development that has been trod in recent decades by
\ncountries like Brazil, China and India – only in Africa the
\ntransformation is happening even faster.<\/p>\n

<\/span><\/p>\n

“The chances are this will be like Asia and this will go on
\nfor the next 30 years,” Jennings said. “It is helpful to
\nremember where Asia was in the early 1970s. Then, most of the
\nwars were in Asia, the lowest GDP and life expectancy were in
\nAsia. People thought that was Asia’s lot.”
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

By Chrystia Freeland NEW YORK Oct 18 (Reuters) – If you are looking for some good cheer in a pretty gloomy world, consider the growing consensus among some of the world’s smartest money that the next big emerging market may be Africa. Above all, that is great news for Africans: As we have seen across […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15718","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15718"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15718\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}