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Article: Europe and Africa: a rational solution.(THIS MONTH'S PRIZE LETTER)(Letter to the editor)
- Article from:
- African Business
- Article date:
- November 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Africa's economic growth may be above 5%, but increasing numbers of desperate Africans are risking everything to leave the continent. GNP growth is in fact a highly misleading statistic and not indicative of true sustainable development and far less a guarantee of any prosperity being equally shared.
The African continent is rapidly being depleted of its natural resources by both the West and more recently the Asian economies that have a huge appetite for its raw materials and fossil energy. As in the past, only a small proportion of the revenues earned from these overseas markets are being invested in Africa's industrial base and adequate social services for its ...