Speaking of Miracles in Africa

One of my students sent me this article which is the cover story of Foreign Policy magazine. This is, at least, the third significant magazine to take note of the impending economic transformations of Africa. One was from Newsweek and the other was from The Economist. Here is part of the judgment from Foreign Policy:

"Pockets of great risk and instability certainly remain, but the long-term trends look good. Global demand for commodities is rising, and Africa is well positioned to profit. The fastest-growing demand for these raw inputs comes from the world's emerging economies, with which sub-Saharan Africa now conducts half its trade. Africa's production of oil, gas, minerals, and other resources is projected to grow at 2 to 4 percent per year for the next 10 years. At current prices, this will raise the value of resource production to $540 billion by 2020 -- and possibly much higher depending on how commodity prices rise."


Update: The Economist concurs again!