Tuesday, September 23, 2008

Keeping it Real ... GDP



Let us analyze this graph.

- Real GDP Per capita in western countries is over 12 times that of those in Africa.
- REAL GDP in Africa is equivalent to that of western countries IN 1850. In other words, where Britain was in 1850, Africa is today.
- although there was miniscule growth in GDP in Africa from 1900 to 1960...it flattened after this. The 1960s were, coincidentally, when independence was granted to many of the African colonies.
-Asia after 1960, rapidly overtakes Africa, and now has almost double Africa's Real GDP per Capita.

These are OECD Figures.

Where did Asia go right that Africa went wrong? How can we rectify this?
Analysis on this issue can fill many volumes. This will be examined in the upcoming months.

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