Africa: Height of the sky
As economies boom on both sides of the south Atlantic, the potential for trade and investment between Latin America and Africa has scarcely been so great
By Thierry Ogier
The gap over the south Atlantic is being bridged - "slowly,
but surely," says Mthuli Ncube, chief economist of the African
Development Bank (AfDB). On one side is Africa's fast growing
economies and emerging middle class: every year in the past
decade, 12 million people have enjoyed an increase in
purchasing power while today a third of the continent's billion
people are considered middle class, according to the AfDB. On
the other side is Latin America, where Brazil stands out for
its global aspirations, its trade diversification and its
investment strategy. The World Bank now even talks of a "new
Africa" coinciding with a "global Brazil". Few Latin American
countries aside from Brazil have yet tapped opportunities in
Africa. But as economies boom on both sides of the Atlantic,
the potential for trade and investment between the two regions
has scarcely been so great. Brazil's development bank...
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