Two weeks away from the November midterm elections, politicians on both sides of the aisle are cashing in and playing politics with the current outbreak of the deadly Ebola virus. After the death of Thomas Eric Duncan, a Liberian visitor who recently became the first victim of the virus on American soil, Republican from Mitch … More Ebola Hysteria and the Midterm Elections
This week, Bill O’Reilly, had another standoff with The Daily Show’s Jon Stewart on “white privilege”. The pugnacious Foxnews political commentator acknowledged that historical discrimination of blacks and other racial minorities in the U.S. have had a lasting effect, but he argued that personal responsibility (i.e. good values), now, is the main determinant of one’s … More White Privilege is Just Another Cop-out
After reading Tyler Cowen’s post on Bolivia, I thought about writing a similar post on South Africa, the economic giant in my neck of the woods. Without further ado, here are five reasons why I am a relative pessimist about former President Nelson Mandela’s beloved country. 1) Since the first democratic elections in 1994, the … More Why I am a relative pessimist about South Africa
Next week, as promised during his trip to Africa last year, President Obama will host the first US-Africa Summit in Washington, D.C. to highlight the administration’s goal of strengthening political and economic ties with the continent. From August 4th-6th, more than 40 African presidents along with leaders of the African Union will be hosted at … More U.S.- Africa Summit: After Asia, is Obama Pivoting to Africa?
To gradually transition its economy from an export- and investment-based growth model to domestic consumption and services last September, Chinese authorities announced the creation of the China (Shanghai) Pilot Free Trade Zone (hereafter Shanghai FTZ). After three decades of double digits annual GDP growth rate, the Middle Kingdom decelerated to approximately 7.7 % annual growth rate … More Shanghai FTZ and China’s Shift Into Services and Consumption
Last week, Moody’s, the credit-rating agency, warned that rising government debt in Africa could lead to credit-rating downgrade in the continent. There is a flurry of sub-Saharan African countries issuing bonds to finance infrastructure projects and fill budget deficits. Since Ghana raised $750 million by issuing a 10-year Eurobond with an 8.5% coupon rate in 2007, others … More Bonds or Bust: Financing Africa
After recalculating its GDP earlier this year, as anticipated, Nigeria surpassed South Africa as the largest economy in Africa. Although still heavily dependent on crude oil exports and the petroleum sector for foreign exchange earnings, Nigeria is diversifying into non-oil sectors such as agriculture, services and others. For instance, non-oil sector is expected to grow … More Nigeria vs South Africa: A Short Comparison
A Dutch court ruled that a traditional figure known as Black Pete is a negative stereotype of black people. Here is the article by AP via USA TODAY: Black Pete is usually portrayed by white people in blackface makeup, with thick red lips and a frizzy Afro hairstyle. Opponents say that’s a racist caricature. Most Dutch … More Black Pete: Racism or Harmless Fantasy?
Une nouvelle analyse indique que 550 millions de personnes pourraient être nourries par des terres accaparées dans certains des pays les plus affamés du monde. Nulle part ailleurs ce problème est plus évident que dans l’Afrique sub-saharienne. Après la crise alimentaire de 2007-2008, la question de l’accaparement des terres en Afrique a été catapultée sur la … More L’Accaparement des Terres En Afrique
Last month (May 2014), the African National Congress (ANC), as expected, won its fifth consecutive general elections victory in South Africa with more than 62 percent of the votes despite a 25.2 percent unemployment rate, growing inequality, and sluggish economic growth. Even though Nelson Mandela’s party continues to enjoy strong supports due to its historical role … More Structural Reforms are Needed in South Africa