In an FCIB members-only teleconference earlier this month that focused on the global economic outlook, FCIA Vice President/International Economist Byron Shoulton noted that African nations with promise continue to be held back more so by lack of credit availability and new first-world investments because of worries about region than because of the widely discussed global economic crisis:
South Africa: Coming off a well-hosted World Cup that shined a positive spotlight globally on the nation in 2010, and its inclusion in talks among the powerful BRIC nations in recent years, the luster has been somewhat tarnished. Shoulton calls the deterioration rapid. “Governments have not been proactive in dealing with poverty. The miners’ strike and police killing of more than 40 people illustrates this. There has been rampant mismanagement.”
Zambia and Sudan: Both have seen heavy investment from China, largely their natural resource holdings. However, the often low quality of life of their people hasn’t changed mmuch with this increased investment, Shoulton noted: people wishing for better pay, living and working conditions have taken to calling the Chinese "new colonizers."
-Brian Shappell, CBA, NACM staff writer
(Note: For more on this topic, check out our story this week's eNews release on Thursday afternoon via e-mail or at www.nacm.org).