Commodity Boom a Double-edged Sword for Africa

Powered by soaring commodity prices, Africa’s economic fortunes have been transformed since the turn of the century. This commodity boom was itself driven to a large extent by China’s resource-hungry investment-led growth model.

In 2012, China imported 17% of its fuels and 7% of its total mineral imports from Africa. Although commodity prices – from oil to precious metals and most things in between – remain elevated compared to late 20th century levels, what is often termed a decades-long ‘super cycle’ ran out of steam in the latter part of the 2000s. Commodity prices have since fallen, sometimes sharply, from their peaks.

Click here to read the full article.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s