Economic development in Africa Essay

Exclusively available on Available only on IvyPanda® Made by Human No AI

This talk basically is about the paradox of financial aid given to Africa. Much of the talk is centered on showing that this aid is ‘dead aid’. This is done by giving illustrations that show why this is the case. The central argument is that many of the African countries are not used to a saving culture, consequently aid money acts as their save boxes.

This has led to these countries running their budgets on aid money implying that if there is a sudden stop in flow of the aid then government operations will not proceed smoothly. Financial aid hurts the economy because the governments do nothing to encourage private investment since the funds are sourced from donors and not from domestic taxes.

The talk also touches on the standards of living in Africa. It is argued that the living standards in Africa are worse than they were in the 1970s. Life expectancies is said to be quickly shortening. It is argued that this is due to epidemics such as the HIV Aids which have greatly spread in Africa without being properly contained.

The talk also focuses on the Africa-China interaction. This interaction is argued to benefit the African continent greatly. The Chinese aid to Africa is therefore applauded unlike Western aid to Africa. The explanation given is that the Chinese come to Africa to do business and not to make policies. The Chinese aid is not attached to any policy issues but is purely focused on capital projects which have enabled Africans to acquire jobs and raise their living standards.

In the closing minutes of the talk, Moyo reacts to a few critics. What comes out so well is that the aid given to Africa cripples the African continent. This aid does not let the Africans do what they are supposed to do.

The arguments made in this talk are quite logical. I like the comparison made between the Western aid and the Chinese aid. It helps to illustrate where the problem with the Western aid is. The fact that the Western aid has been doing what the African governments ought to do is a great push back to the economic development in Africa.

I agree that the western financial aid in a way acts as an incentive for the government not to engage in serious economic projects. Good examples to support this assertion came out in the talk. One of them was the drug assistance to people infected with aids.

This is the role of the local governments but because the western nations have always taken up this responsibility, the local governments, seemingly, have assumed that it is not their role to provide their people with the medication required. In my opinion, this kind of insulation has made the local governments to fall into laxity and therefore they have failed to stimulate economic develop in the various African nations.

On the contrary, the Chinese aid seems to do the opposite of what the western aid has been doing for such a long time. The Chinese aid has been significantly in the form of infrastructure development. In the talk, road networks are mentioned. Making investment in infrastructure is significant for economic development and that is what the Chinese go to do in Africa. In conclusion, I am in agreement that Africa needs to be assisted to start off serious economic developments to cater for its own financial demands.

More related papers Related Essay Examples
Cite This paper
You're welcome to use this sample in your assignment. Be sure to cite it correctly

Reference

IvyPanda. (2018, November 28). Economic development in Africa. https://ivypanda.com/essays/economic-development-in-africa/

Work Cited

"Economic development in Africa." IvyPanda, 28 Nov. 2018, ivypanda.com/essays/economic-development-in-africa/.

References

IvyPanda. (2018) 'Economic development in Africa'. 28 November.

References

IvyPanda. 2018. "Economic development in Africa." November 28, 2018. https://ivypanda.com/essays/economic-development-in-africa/.

1. IvyPanda. "Economic development in Africa." November 28, 2018. https://ivypanda.com/essays/economic-development-in-africa/.


Bibliography


IvyPanda. "Economic development in Africa." November 28, 2018. https://ivypanda.com/essays/economic-development-in-africa/.

If, for any reason, you believe that this content should not be published on our website, please request its removal.
Updated:
This academic paper example has been carefully picked, checked and refined by our editorial team.
No AI was involved: only quilified experts contributed.
You are free to use it for the following purposes:
  • To find inspiration for your paper and overcome writer’s block
  • As a source of information (ensure proper referencing)
  • As a template for you assignment
Privacy Settings

IvyPanda uses cookies and similar technologies to enhance your experience, enabling functionalities such as:

  • Basic site functions
  • Ensuring secure, safe transactions
  • Secure account login
  • Remembering account, browser, and regional preferences
  • Remembering privacy and security settings
  • Analyzing site traffic and usage
  • Personalized search, content, and recommendations
  • Displaying relevant, targeted ads on and off IvyPanda

Please refer to IvyPanda's Cookies Policy and Privacy Policy for detailed information.

Required Cookies & Technologies
Always active

Certain technologies we use are essential for critical functions such as security and site integrity, account authentication, security and privacy preferences, internal site usage and maintenance data, and ensuring the site operates correctly for browsing and transactions.

Site Customization

Cookies and similar technologies are used to enhance your experience by:

  • Remembering general and regional preferences
  • Personalizing content, search, recommendations, and offers

Some functions, such as personalized recommendations, account preferences, or localization, may not work correctly without these technologies. For more details, please refer to IvyPanda's Cookies Policy.

Personalized Advertising

To enable personalized advertising (such as interest-based ads), we may share your data with our marketing and advertising partners using cookies and other technologies. These partners may have their own information collected about you. Turning off the personalized advertising setting won't stop you from seeing IvyPanda ads, but it may make the ads you see less relevant or more repetitive.

Personalized advertising may be considered a "sale" or "sharing" of the information under California and other state privacy laws, and you may have the right to opt out. Turning off personalized advertising allows you to exercise your right to opt out. Learn more in IvyPanda's Cookies Policy and Privacy Policy.

1 / 1