AfDB: Championing inclusive growth across Africa. A blog by the former Chief Economist and Vice-President
For the past decade, Africa has had strong growth. A new economic momentum has been created. The continent weathered the financial crisis and has bounced back. But headline economic growth is not enough. Deliberate policies to reduce inequalities and promote inclusion are now needed more than ever before. It is time to focus on what people want: decent work, a living wage, access to basic service, more democracy and accountable governments. Africa and its people aim to be a pole of growth in the decades ahead. Read more
China’s rapid growth over the past ten years has made it the largest consumer of industrial metals (steel, copper and zinc). In 2011, China accounted for close to 50% of global consumption for base metals. However, recent studies have cautioned that this China-driven boom for industrial metals may be nearing its end, as the Chinese government targets slower, less commodity-intensive growth. China’s 12th Five-Year Plan for 2011-2015 calls for a growth model that focuses on the establishment of a long-term mechanism to boost domestic demand.