21 October 2008

Can Africa gain in the credit crisis?

Is the credit crisis about to send Africa into yet another downward spiral?  Perhaps not. In fact it is possible that the continent could fare better than the rest of the world. This is at least in part because most African economies have been so marginal to the international economic system that they have been less affected than other regions of the globe.

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However, shouldn't we examine the economies of Africa in terms of the rest of the world?  Should we celebrate the fact that we have allowed/created the current situation that allows Africa to remain free from the current financial crisis?