There is hope

摘要

Until the past few weeks of global turmoil, Africa's doughty band of boosters were feeling they at last had something to smile about. After four decades of political and economic stagnation that kept most of their 8oom-odd people inrnpoverty and gloom, the continent's 48 sub-Saharan countries have been growing for the past five years at a perky overall rate of 5% or so. If they maintain this pace or even bump it up a bit, Africa still has a chance of taking off. Now, with commodity prices likely to fall, world markets sure to shrivel and Western aid set to plateau or even dip, Africa, though more isolated from the global economy than other parts of the world, is bound to suffer from its ill breeze. But maybe not as badly. Once described by this newspaper, perhaps with undue harshness, as "the hopeless continent", it could yet confound its legion of gloomsters and show that its oft-heralded renaissance is not just another false dawn prompted by the passing windfall of booming commodity prices, but the start of something solid and sustainable. Despite its manifold and persistent problems of lousy governments and erratic climates (see page 33), Africa has a chance of rising.