World Economic Crisis = Disaster in Africa?

The Weakest Link -- Newsweek

Commodity-rich Africa profited when the world was growing. Now that it's not, it will be the hardest hit.

For the last decade or so, an economic uplifting in Africa has brought millions out of poverty. Democracy spread farther and faster than ever before. In December, the World Bank reported that sub-Saharan Africa's 2008 economic growth was 5.4 percent, equaling Europe and higher than Latin America (Africa finally ceded to Latin America its place as the world's slowest-growing region). Even now, many Africans imagine they will escape the global credit crisis relatively unscathed.

They're in for a rude shock.

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My Comment: Africa is unbelievably poor .... but the people are very resilient .... they will come out of this downturn in better shape than what people are giving them credit for.