The continent of Africa is seeing higher economic growth than any other continent. - Polidicks

[IMG]http://news.bbcimg.co.uk/media/images/68669000/jpg/_68669152_africanmiddleclasslagosjewellers.jpg[/IMG][URL="http://www.bbc.co.uk/news/business-23267647"] http://www.bbc.co.uk/news/business-23267647[/URL] [quote][B]Africa's economy is growing faster than any other continent, according to the African Development Bank (AfDB). [/B]A new report from the AfDB said one-third of Africa's countries have GDP growth rates of more than 6%. The costs of starting a business have fallen by more than two-thirds over the past seven years, while delays for starting a business have been halved. The continent's middle class is growing rapidly - around 350 million Africans now earn between $2 and $20 a day. The share of the population living below the poverty line in Africa has fallen from 51% in 2005 to 39% in 2012. Africa's collective gross domestic product (GDP) per capita reached $953 last year, while the number of middle income countries on the continent rose to 26, out of a total of 54. [b]The AfDB's Annual Development Effectiveness Report said the growth was largely driven by the private sector[/b], thanks to improved economic governance and a better business climate on the continent. "This progress has brought increased levels of trade and investment, with the annual rate of foreign investment increasing fivefold since 2000. For the future, improvements in such areas as access to finance and quality of infrastructure should help improve Africa's global competitiveness," the report said.[/quote] Three hurrahs for freedom and capitalism. Still a lot of work to be done for the continent as a whole, but I think this century holds bright prospects.

Maybe soon they'll be donating [I]me [/I]$20 a month :tinfoil:

maybe the princes are distributing the money within their countries instead of giving it to foreigners

It's because of financial aid and sweat shops\cheap labour and foreign investment. With china now fast becoming a first world country cheap labour is no longer a prospect as they live modern lives so work is now exported to several other asian countries and africa.

[QUOTE=Sword and Paint;41431780]It's because of financial aid and sweat shops\cheap labour and foreign investment. With china now fast becoming a first world country cheap labour is no longer a prospect as they live modern lives so work is now exported to several other asian countries and africa.[/QUOTE] EVERY wealthy nation started like that.

Not hard to see growth when the majority of your nations were making less than a couple billion a year.

Good. The quicker they modernize the sooner the TV Charities will stop trying to use them to guilt-trip money out of everyone, not to mention them also having way better living conditions.

it's probably only growing because all the other continents are already miles ahead. it may look like they're improving but they're really just catching up

The answer is China...

[QUOTE=TCB;41431873]it may look like they're improving but they're really just catching up[/QUOTE] which is called improving :rolleye:

If only this meant better conditions for the millions of people in Africa. It is likely that this only benefits the rich elite in these countries.

[QUOTE=Sword and Paint;41431780]It's because of financial aid and sweat shops\cheap labour and foreign investment. With china now fast becoming a first world country cheap labour is no longer a prospect as they live modern lives so work is now exported to several other asian countries and africa.[/QUOTE] I assure you China looks still looks like a terrible third world country in many areas. It's still to early to call it a modern country

[QUOTE=TehMentos;41432245]If only this meant better conditions for the millions of people in Africa. It is likely that this only benefits the rich elite in these countries.[/QUOTE] [quote]The continent's middle class is growing rapidly - around 350 million Africans now earn between $2 and $20 a day. The share of the population living below the poverty line in Africa has fallen from 51% in 2005 to 39% in 2012.[/quote] All you had to do was read the article.

[QUOTE=TehMentos;41432245]If only this meant better conditions for the millions of people in Africa. It is likely that this only benefits the rich elite in these countries.[/QUOTE] [quote]The continent's middle class is growing rapidly - around 350 million Africans now earn between $2 and $20 a day. The share of the population living below the poverty line in Africa has fallen from 51% in 2005 to 39% in 2012. Africa's collective gross domestic product (GDP) per capita reached $953 last year, while the number of middle income countries on the continent rose to 26, out of a total of 54.[/quote] uh [editline]12th July 2013[/editline] oh goddamn it, ninja

But what happens when we run out of countries to do the dirty, unpleasant work?

[QUOTE=Zarjk;41432414]But what happens when we run out of countries to do the dirty, unpleasant work?[/QUOTE] Robot slaves!

[QUOTE=Zarjk;41432414]But what happens when we run out of countries to do the dirty, unpleasant work?[/QUOTE] We find the person who offers to do it for the lowest. Since the number of people willing to do that will be in short supply, there will be heavy competition over these workers. Wages will then rise. Even in the late 18th century, factories and farms competed over scarce labour by raising wages (to the extent that farms near industrial areas paid high wages, whilst rural parts of countries depopulated). [QUOTE=CakeMaster7;41432452]Robot slaves![/QUOTE] They will become economical as soon as it becomes cheaper to buy and maintain a robot than a human.

[QUOTE=NoDachi;41431915]which is called improving :rolleye:[/QUOTE] A lot of coutnrties in Africa are simply being exploited by foreign business. Truth be told the growth rate should be even higher, but they are barely seeing a penny for the resources being taken from their countries. It's the same shit that's been going on for a long time. Africa is very resource rich and untapped, I really hope it'll get it's shit together in the next 30 years. Africa could be the next Europe/North America in terms of economic power if it could just become politically and socially stable.

[QUOTE=hypno-toad;41432729]Africa is very resource rich and untapped[/QUOTE] This is actually part of the reason why its politically unstable. Dictators can sell off the rights to easily exploitable resources (like oil) or use very few people to drill for it. If more improvement is to be seen, aid should be suspended and granted only when dictators undergo socioeconomic and political reforms. If they are found to be lying or reversing policies, stop the flow of aid.