Toggle navigation
Ask Questions
Ask
Answer Questions
Answer
Users
FAQ
Login
Register
Preview 50% of the Answer Below
Due to formatting, images, tables, or paragraphs may be out of place or not shown. Rest assured that they will be included and formatted correctly in your purchased answer.
Details
Question Title:
Africa and free trade
Go Back to the Question
Answer Preview
fastest-growing economies</a>and 2020 won’t be very different.A few of the countries on the top 10 list may have changed but the IMF, World Bank and other institutions all expect above global average GDP growth. </p> <p>The top performers will be South Sudan (8.2%), Rwanda (8.1%) Côte d’Ivoire (7.3%), Ethiopia (7.2%), Senegal (6.8%), Benin (6.7%) and Uganda (6.2%) along with Kenya, Mozambique, Niger and Burkina Faso all expecting 6% growth. While these countries help push up Africa’s overall average economic growth rate forecast to 3.8% (or 3.6% for Sub Saharan Africa), these averages are weighed down closer to the global average (3.4%) by the two largest economies, Nigeria (2.5%) and South Africa (1.1%). </p> <p>Nigeria’s outlook has improved after a strong end to 2019, but most economic watchers believe it needs to grow much faster to pull large chunks of its 200-million strong population out of poverty. Economic reform has been slower than expected since February 2019’s presidential election. South Africa’s meager growth rates are exacerbated by its ongoing electricity XXXXXX and XXXXXXX XXXXXXXXX XXXXXX. XXX leaders XXXX likely spend XXXX XX the year dreading an XXXXXXXXXX XXXX XXXXXXXXX. XXXXX XXXX is XXXX XX the XXXXX XX a new decade, XXXXXXXXX Institution’s annual<a href="XXXXX://XXX.XXXXXXXXX.XXX/multi-chapter-report/foresight-XXXXXX-XXX-XXXXXXXXXX-for-XXX-continent-in-XXXX/">Foresight Africa XXXXXX</a>XXXXXX XX the XXXXXXX economic XXXXXX forecasts XXX the XXXX five XXXXX till 2024. XXXX XXXXXXXX XXXXXXX (X.X%), XXXXXX (7.X%), Niger (X.3% ), XXXXXX (X.X%) and Mozambique (X.9%) as the XXXX XXXXXXX growing XXXX that XXXXXX. </p> <p> </p> <p>XXXXX XXXXX XXXXXXXXX are XXXXXXXXX, XXXX economists XXX XXXXXXXXX are paying more attention to how XXX XXXXXXX XX climate change will impact XXXXX economic XXXXXXXXXXXXXXXX. Brookings XXXXXXXXXX XXXXXXXX XXXXX XXXXX XXXXXXX crop yields, XXXXX labor and agricultural productivity XXX XXXXXX XX XXXXX health due XX XXXXXXX change XXXX significantly XXXXXXXX GDP in Africa. XXXXXX XXXXXXXXXXXX rising XX XXXX XX 3°C XX 2100 would have a XXXXXXXXXXXXXXXX impact XX Africa XXXX aggregate GDP XXXXXXXXXXX XXXXXXXX XX XX much XX 8.6% after that year. </p> <p>XXX XX a XXXX hopeful XXXX XXXXXXXXX XXXXXXXX say there’s a $16 billion opportunity if XXXXXXX countries<a href="XXXXX://XX.com/africa/1633022/africa-free-trade-deal-XXXX-boost-XXXXXXXXX-economy/">XXXXX XXXXXXXXX</a>XXX African Continental Free XXXX Agreement (AfCFTA). XX the XXXXX XXXXXXXX where XXXXX’s a 100% liberalization of XXXXXXX XXXXXX African member XXXXXX XXXXX the agreement, XXX XXXXXXXXX’s aggregate GDP would jump to $X XXXXXXXX XX XXXX XXXX $X.1 trillion today. In XXXX scenario there would XX a 33% XXXXXXXX in XXXXX-African XXXXXXX XXX 1.X% XXXXXXXX in employment. </p> <p><b>How XXXXXX Is XXXXXXXX a $3 Trillion Free-XXXXX XXXXXX</b> </p> <p>XXXX trade XXXXXXXX XXXXXXX the X.S., XXXXX XXX XXXXXX, XXX XXX X.X.’s fraught XXXXXXXXX XXXX the European XXXXX and XXXXXX market, African XXXXXXX XXX XXXXXX in the XXXXXXXX XXXXXXXXX XX XXXXXXXXX XXX XXXXX’s XXXXXXX XXXX-XXXXX zone. XXX XXXXXXX Continental XXXX Trade XXXX XXXXXXXX XXXX XXXX effect in May, XXXX years after negotiations began. If it XXXXX to XXXX XXXXXXXX, XXX deal XXXXX XXXXX a XXXXXX of 1.2 billion XXXXXX XXXX a combined gross domestic product of $X.X trillion. </p> <p>X. XXX’s in the free-XXXXX agreement? </p> <p>Just XXXXX XXX entire XXXXXXX continent. XXX XXX XXX of XXX 55 countries recognized XX XXX African XXXXX XXXX XXXXXX on to the organization’s XXXXXXXXXX to XXXXXXXXXX intra-African trade in goods XXX XXXXXXXX. (XXXXXXX, which XXX a XXXXXXX XXXXXX XXXXXXX, XX XXX sole holdout.) Almost half XX their governments XXXX XXXXXXXX it, XXX XXX deal XX XXX XX XXXX in starting next XXXX. </p> <p> </p> <p>X. What would the XXXXXXX Continental Free Trade XXXX XX? </p> <p>Among other XXXXXX, it XXXX XX lower or XXXXXXXXX cross-border XXXXXXX on 90% of goods, facilitate XXX XXXXXXXX of capital and people, XXXXXXX XXXXXXXXXX XXX XXXX XXX XXX to XXX establishment XX a continent-XXXX customs union. It XXXX XXXX XXXXXX a liberalized XXXXXX XXX XXXXXXXX. Once XXXXXXX XXXX out how XX treat XXXXXXX such XX XXXXX-border XXXXXXXX, telecommunications, XXXXXXXXX XXX XXXXXXXXXXXX services, some countries XXXX XXXX XX XXXXX XXXXX XXXXXXXX regulations to comply. </p> <p>X. XXX XXXXXXX XXXXX the agreement XXXXXXX? </p> <p>Not yet. The XXXXX area entered XXXX force XX May 30 XXXXX XXX XXXXXXXX minimum of XX XXXXXXX XXXXXXXX it. But XXXXXXXXX XXXXX XXXXX’t XXXXXX out XXX “XXXXX of origin” -- XXXXX determine the nationality XX XXXXX -- or XXXXXX XXXXXXXXXXX. XX’s a two-phased XXXXXXXXXXX, with talks XX XXX XXXXXXXXX XXX XXXXX in goods, services and dispute XXXXXXXXXX now under way. XXX next XXXXX will deal XXXX competition XXXXXX, intellectual property rights and XXXXXXXXXX protocols. XXXXXXX want XXXXXXX XXXXX the agreement to begin by July 2020, XXXXXX to XXXX operation in 2030 XX XXXX XXXXXXXXX XXXX XXX XXXX. </p> <p> </p> <p>4. XXXX’s slowing XXXXXX XXXX? </p> <p>XXXXXXX XXX an important XXXXXXX source for XXXX XXXXXXXXXXX and are often XXXX XX XXXXXXX XXXXXXXX XXXXXXXXXX, so letting XX XX XXXX will require some adjustment. Depending XX the XXXXXXX XX negotiations, South XXXXXX XXX Nigeria, XXX XXXXXXXXX’s XXXXXXX XXXXXXXXX, XXX have XX XXXXXXXXX XX% XX their tariff categories over a XXXX-year period. Others such as Ethiopia, XXXXX and XXXXXXXX may XXXX XX XX so XXXX XX years. If XXXXXXX XX any XXXXX, XXXXXXXXXXXXXX could XXXX XXXX XXXX. The XXXXXXXXXX Free XXXXX Area -- a XXXXXXXXX XX XXX AfCFTA that XXXXXX XX combine the XXXXXX Market for XXXX XXX Southern XXXXXX, XXX East XXXXXXX Community XXX XXX XXXXXXXX African Development Community -- was XXXXXX XXXXXX three XXXXX ago and still hasn’t gone XXXX effect. </p> <p>5. XXXX’s XXXXX-African trade like today? </p> <p>Shipments among XXXXXXX countries XXX account XXX about XX% of the XXXXXXXXX’s total XXXXX, XXXXXXXX with XX% in Latin XXXXXXX and XX% XXX Asia, according to the XXXXXXX Export-Import XXXX. XXXX share XXXXX XXXX than XXXXXX within the first XXXXXX after the XXXXXX, XXX XXXX estimates. XXXX trade XXXXX place in XXXXXXXX XXXXXXXX XXXXXXXX XXXXXXXXXXX, with XXX Southern African XXXXXXXXXXX XXXXXXXXX comprising more XXXX XX% XX the total, according to figures from the Trade XXX Centre in Stellenbosch, XXXXX Africa. That’s largely powered by XXXXX XXXXXX, the XXXXXXXXX’s most industrialized economy. Freight XXXXXXXXX has been XXXXXXXX by XXX-XXXXX barriers XXXX XX poor XXXX and rail networks, XXXXXX at border posts and in XXXX cases XXX-trained or XXXXXXX XXXXXXX XXXXXXXXX. XXXX XXXXXXX XXX removing such XXXXXXX XXXXX do XXXX to XXXXX continent-wide trade XXXX XXXXXX XXXXXX. </p> <p>6. XXX could benefit most? </p> <p>Countries XXXX XX XXXXX XXXXXX and XXXXX -- XXXX larger manufacturing XXXXX XXX better XXXX XXXXXXXX, XXXXXXXX and XXXXX -- are most likely XX XXXX from further regional XXXXXXXXXXX, XXXX Moody’s XXXXXXXXX Service. XXX others, poor infrastructure and non-XXXXXX barriers, XXXX XX XXXXXXXXXX government XXXXXXXXXXX, could continue XX restrict XXX trade XXXXXX’s development XXX long-XXXX growth XXXXXXXXX, despite XXXXXXXXXXXXXX. </p> <p> </p> <p>7. What XXXX XXXXXX XX existing XXXXXXXX economic XXXXXXXXXXX? </p> <p>XXXXX XXX agreement XXXXXXXXXX XXXXX XXXXXXX-old XXXXX XXXXXXXXXXX XX XXX building blocks of AfCFTA, the XXXXXXXXX-XXXX deal XXXX take XXXXXXXXXX XX XXXXX’s a XXXXXXXX or XXXXXXXXXXXXX. If XXXXXXX XXXXX XXXXXXXX XXXXXXXX trade XXXXX XXX customs XXXXXX are already XXXXX XXXX XXX XXXXXXXXX-wide deal XXXXXXXX for, the lower rates will XXXXXX in XXXXX. </p> <p><b>Africa and XXXXX</b> </p> <p>China’s emergence as a XXXXX player in XXXXXX’s XXXXX, investment, and XXX has led many to question the nature XX XXX XXXXXXXXXXX. Critics say XXXX China XX XXXX interested in XXXXXXXXX, its exports XX Africa threaten local industries, and it XX XXXXXXXXXX Africa’s XXXXXXXXXXX XXXXXXXX, like XXX United States. </p> <p>True, China is a large user of XXXXXXXXXXX and XXX a vital interest in XXXXXXXXXX XXXXXX’s XXXXXXX resources, but it is not just XX a resource hunt. Moreover, XXX XXXXXXX impacts XX XXXXXX XX XXXXX’s increased XXXXXXX, XXXX in XXXXXXXX XXX XXXXXXXX markets, appear to be XXXXXXX to XXXXXXXX industries XXXX as garments. XXX XXXXXXX their XXXXXXXXXXX in XXXXXXXXXX XXX XXXXXXXXXX, China XXX the United XXXXXX can complement XXXX other in XXXX XXXXX. Africa has XXXX XX gain if it XXXX XXX leverage XXXXXX. </p> <p> </p> <p> </p> <p> </p> <p> </p>">
Attachment #1 Preview
