Africa to lose big as global tensions mount

Ear to the ground: Pelaelo and his executives are constantly monitoring global geopolitical tensions PIC: MORERI SEJAKGOMO
Ear to the ground: Pelaelo and his executives are constantly monitoring global geopolitical tensions PIC: MORERI SEJAKGOMO

Africa is set to be the biggest loser should the rocky economic relationship between the Chinese and the United States trading blocs continue to fragment, a new report by the International Monetary Fund (IMF) suggests.

IMF researchers said Africa has been benefiting from global integration, riding on the tailwinds of the growth of emerging economies like China but this could be brought to a halt.

“Africa trade openness – measured as imports plus exports as a share of GDP – doubled from 20% of GDP before 2000 to about 40%. “This doubling, together with buoyant commodity prices, among other factors, contributed to the growth take-off of Africa during this period, boosting living standards," researchers stated.

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