AFRICA
AFRICA AND CHINA IN THE 21ST CENTURY Economic Engagement, Experiences, and Opportunities Edited by Shuilin Wang and Albert G. Zeufack
This book contributes to the understanding of the complexities and dynamics that underlie the relationship between Africa and China, and how to make this relationship truly mutually beneficial. It makes practical suggestions as to how the continent could best leverage China's continued involvement and how Chinese investments could better support African development. The book focuses on four thematic issues: investment and infrastructure, technology and digital innovation, structural transformation, and poverty reduction and human capital development. These issues all played an important role in China's rapid economic modernization and are fundamental to sustainable development and economic transformation in Africa. The chapters are based on research and analyze the experience of China and African countries in each of the thematic issues, as well as the impact of Chinese investments in Africa on both China and African countries. The book also highlights the importance of leveraging partnerships in support of African development. May 2022. 400 pages. Stock no. C211823 (ISBN: 978-1-4648-1823-3). US$60.50
MAKING THE MOST OF THE AFRICAN CONTINENTAL FREE TRADE AREA Leveraging Trade and Foreign Direct Investment to Boost Growth and Poverty Reduction By Roberto Echandi, Maryla Maliszewska, and Victor Steenberg
This volume expands on the analysis presented in the 2020 World Bank book, The African Continental Free Trade Area (AfCFTA): Economic and Distributional Effects. That study showed that the AfCFTA could potentially increase real income in Africa by an additional 7 percent by 2035, over and above what would otherwise have been achieved by then. These gains would come from increased intraregional trade, and would bring 40 million people out of extreme poverty and raise the incomes of 75 million others who live on less than US$5.50 per day—after factoring in the number of people pushed into poverty because of the COVID-19 pandemic. The authors examine the potential dynamic gains from trade, factoring in the foreign direct investment (FDI) that is expected to follow greater trade openness (both intraand extra-regional FDI). Accounting for the expected impact of the continental free trade area in boosting FDI, the AfCFTA FDI “Broad” scenario could generate a further 0.8 percent boost to real income, reaching about 8 percent in 2035, compared to the April 2022. 190 pages. baseline without AfCFTA. Adding the gains from deeper integration, the AfCFTA FDI Stock no. C211827 (ISBN: 978-1-4648-1827-1). US$49.50 “Deep” scenario would bring these gains up to 9 percent. Extreme poverty would fall further under the more ambitious trade liberalization and deeper integration envisaged under the AfCFTA FDI Broad scenario and AfCFTA FDI Deep scenarios, respectively. The AfCFTA can catapult Africa's development. However, unlocking these potential gains will not be automatic, but will require implementation of a set of parallel actions. 20
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