Screenshot of Observer article in No 263 October 2007 (see attached file); original photo by Aly Song for Reuters.
Well done on a clever choice of photo for “Africa: An emerging markets frontier” (No 263, October 2007). Africa is certainly in a better state than it was and, as you point out, all that new investment coming from around the globe is encouraging. The test is how long it will all last.
Some economists say that large growing markets in China and India in some ways cushion Asia from a US recession, but can we say that about Africa? As your photo implies, perhaps Chinese investment could also cushion Africa if the world economy takes a dip.
Maria Klakig Bronx, NY, US
No. 264/265, December 2007-January 2008