'It's Africa's Turn to Be Supercharged in Terms of Economy': Analyst
'It's Africa's Turn to Be Supercharged in Terms of Economy': Analyst
China's business leaders are eager to invest in Africa, creating exciting opportunities for new industries through collaboration with African leaders, Prof. Jeffery Sachs, US economist and public policy analyst, told Sputnik Africa.
Developing countries, particularly in Africa, can benefit from the emerging multipolar financial architecture.
He called on them to focus on two key aspects:
🟠having a strong development plan,
🟠securing financing.
According to the economist, financing could come from private investors, like Chinese companies, or from institutions such as Afreximbank, the African Development Bank, or the BRICS New Development Bank.
'The dollar has been abused': The era of US dollar dominance is rapidly fading due to its use as a political weapon, Sachs pointed out. This shift is happening faster than many realize, with countries seeking alternatives like the yuan, ruble, and rupee, he said.
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