The Chinese built African Union building foreshadows China’s long-term eye on the resource rich continent.
Of special interest to statistics nerds
On one hand this is a fairly classic Obama move. Choose a safe, non-controversial, but highly decorated candidate that not many people have heard of. Clearly a doctor as president of a lending institution is an odd choice, but The Bank does much more than lend to broke countries. Global health interventions have been a growing part of its initiatives.
Just in time for Sachs unsolicited World Bank job application, CSM recounts some rare successes in the Millennium Development Goals. I’m sure Bill Easterly and others would love to split hairs about the definition of success, the cost, and the causality though.
Designer sunglasses manufacturing? KJL Action Figures? Let the sarcastic, snarky comments begin.
How will this play out? My guess is to keep an eye on areas with abundant natural resources, Latin America and Africa.
Africa, like Australia during the last decade, is expected be a huge source for scarce mining products, which will contribute to their exports and growth. With that in mind, they are beginning to get training in mining. Keep an eye on how the resource-hungry Chinese economy reacts.