| Science Forum Index » Economy Forum » Would the following be beneficial to Africa? |
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| Brablo |
 Posted: Wed Nov 09, 2005 3:35 pm |
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Would Africa's economy improve if:
1. They had removed many trade barriers and tarrifs?
2. United their currencies (a la the Euro)?
3. Create some "African Free-Trade Agreement"?
How uplifting to an economy are uniting currencies and creating
free-trades? |
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| PATRICO |
| Posted: Thu Nov 10, 2005 7:57 am |
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Certainly not. What you have written are changes in international
economic environment. African countries need first to reform their
domestic economies. I don't believe that a reform can come from
outside. It must come from inside, as we have seen on many examples in
Asian fast growing countries. This is labeled "good governance", and
this is missing in most of the countries.
1. Remove trade barriers? - Against whom? And what would they trade?
They don't even have agricultural products to feed themselves. First
they need to create agriculture, and then they need to industrialize.
2. United currency? You need to have some political and economic
stability before you make a currency. Yet, if I'm not wrong they have
monetary integration already in place, because their currencies would
be too week alone.
3. FTA? Same as the first one. Tho, there are some QUASI-FTAs in place
already. But if you can not read, what will help you that you can
exchange books with other people. First learn how to read. |
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