African potential

摘要

The construction outlook for sub-Saharan Africa is generally positive, although there are wide swings in growth prospects across countries depending on individual political and economic policies. The key driver for growth is commodity exports, and this dependence translates to economic vulnerability. The current situation of a sustained recovery in the US and Western Europe emerging from recession is a mixed blessing for the region. While stronger markets increase export demand, they also compete for capital. Since developed economies are less risky than emerging markets, they siphon away funds needed for infrastructure and industrial expansion in the developing world. Another factor is that Chinese manufacturing and export growth is weakening, limiting its demand for raw materials and stagnating commodities prices.