Many countries are turning to Africa as manufacturing costs rise in Asia, considering it as a hub for local manufacturing due to access to natural resources. China, with its strong international presence, leverages its market size to wield power over other countries by being the biggest middle class market, thereby influencing global politics and economic decisions.
We were lucky enough to talk with Prof. Asemoglu of MIT about why Africa lags economically despite so much aid and resources being pumped into the country each year. From the impact of institutions to the legacy of policies, we talked about the reasons behind the continent's challenges and the potential paths forward that might actually help improve living conditions in African nations within our lifetimes.
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