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Old August 21st, 2019, 05:39 AM   #26781
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Of the major SSA economies only SA, and to a lesser extent Kenya, have a significant formal economy. North Africa performs much closer to SA of course. Although one of the structural issues with SA's labour market is the high level of formalization compared to other UMI countries. I checked briefly but only Russia appears to have a higher level of formalization among other UMI countries, and some are much lower like Thailand (only 50%).

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Old August 21st, 2019, 11:10 AM   #26782
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Oh so you don't genuflect to all whites, only the anglos? Schizophrenia doesn't even begin to describe your affliction.


So you dont genuflect to all non whites, just the Chinese?

Your petulance is unwarranted.

Difference between me and you is consistency. I will criticise anything- whether it be ‘Western’ or Chinese or Indian or ANC or DP whereas the likes of you are willing to rim Chinese ass and swallow at the same time.

If you want to debate sth in particular with me then please be candid.
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Old August 21st, 2019, 11:21 AM   #26783
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I just find you francophobia bizzare and highly ironic considering that you are constantly banging on about the cultural/town-planning superiority of Europeans. Or you are just against anything French like a good 'Englishman'?

As for me, I don't trust any of these f***s, China is a very useful counterbalance to their hegemony and for that they must be supported.
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Old August 21st, 2019, 11:31 AM   #26784
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'Green gold': Kenyan farmers abandon food crops to grow herbal stimulant

Struggling to get decent maize harvests as drought bites, farmers are turning to fast-growing, less-thirsty muguka to make money

KANYUAMBORA, Kenya, Aug 12 (Thomson Reuters Foundation) - At this time of year, Albert Njeru's farm would usually be blanketed with shoulder-high rows of maize.

But not anymore. Now the fields of grain are gone, replaced by 2 acres (0.80 hectares) of bushy green muguka leaves, a potent legal stimulant that relieves fatigue.

"Muguka gives me a lot of money. Farming maize or beans used to give me losses," said the 45-year-old farmer at his home in Kanyuambora, a village in central Kenya.

As drought and erratic weather wreak havoc across rural Kenya, a growing number of farmers are abandoning traditional crops like maize and rice for the more lucrative muguka.

Njeru can make 30,000 Kenyan shillings ($290) in just one week selling muguka - five times more than he used to make selling maize or beans.

"It is green gold," he said.

A variety of khat, which produces a mild high when chewed, muguka is fast-growing, making it less vulnerable to large swings in weather conditions, and uses about half as much water as maize, Njeru explained.

The strain grown in Embu County, home to Njeru's farm, is strong and so consumers can buy less than with the other popular variety, miraa, which is grown further north in Meru.

That is good news for muguka producers like Njeru, who said he was struggling to cultivate enough to keep up with demand.

But it is bad news for food supplies, said agriculture experts and local politicians, who warned of a potential food crop shortage as farmers clear their fields of staples to make way for muguka.

"Farmers are not interested in growing maize anymore. They want money in their pockets. Muguka is giving them that and a lot more, since they can use the profits to buy more nutritious food," said Martin Mwangi, a member of Embu County's assembly.

"But the long-term consequences could lead to food insecurity due to reduced production."

He pointed to neighbouring Kirinyaga County, where farmers are known for growing Kenya's highest-quality rice.

"Water used for irrigating rice is now being diverted into muguka fields," he cautioned.



http://news.trust.org/item/20190812093810-fcka4/
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Old August 21st, 2019, 11:36 AM   #26785
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Makes you wonder what criteria they use in Nigeria and DRC etc to guess their unemployment figures. I think they count subsistence farming as employment, right? Which would explain why they somehow have lower unemployment than SA despite the 'workforce' not actually earning any money...


Unemployment figures in SSA are unreliable.

The way i see it, most Ghanaians are unemployed. Some subsistence farmer with half an acre or some hawker selling keyrings on the road is not employment.
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Old August 21st, 2019, 11:42 AM   #26786
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I just find you francophobia bizzare and highly ironic considering that you are constantly banging on about the cultural/town-planning superiority of Europeans. Or you are just against anything French like a good 'Englishman'?

As for me, I don't trust any of these f***s, China is a very useful counterbalance to their hegemony and for that they must be supported.
criticising French intervention in Africa is not ‘Francophobia’. Its like the sheeple who say that any criticism of the EU is ‘europhobia’. People often conflate criticism as ‘hating’ or ‘phobia’ on here and I find it quite childish the way people view critique and enquiry

I also say Europeans are better at designing cities than Americans. I also say the British are worse at designing and maintaining cities than the French and Spanish.

So what in your head does all this mean?

Lack of logical thinking.

The truth is, you are just butthurt and trying to pick fights ever I called you out for claiming that blacks will be projected to catch up with whites in SA by 2050 or sth laughable.

Last edited by popa1980; August 21st, 2019 at 11:48 AM.
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Old August 21st, 2019, 01:04 PM   #26787
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Economic Growth is Making Many Egyptians Poorer

Reforms championed by international agencies have stabilized macroeconomic indicators, but they’re not creating jobs.

Since the country’s statistics authority released figures on poverty rates indicating a 5% rise over the past three years. This is a period in which growth has spiked, thanks in no small part to a continuously rising foreign debt.

It is easy to interpret the poverty numbers as the social impact of the International Monetary Fund-prescribed reform program that kicked off in November, 2016, including the massive devaluation of the pound, followed by rounds of subsidy cuts and increases in consumption taxes. These measures, some commentators argue, have impoverished many Egyptians, despite the stable macroeconomic indicators—for instance, inflation is under control, interest rates have been reduced, and the exchange rate has been steady.

But the trend in the poverty data long precedes the recent IMF program. Official statistics show that poverty rates have increased steadily since the early 1990s; the rate has almost doubled since 2000. The recent hike is a continuation of an older and consistent trend that either went untouched by rounds of fiscal and monetary reforms under the auspices of the IMF and the World Bank, or was exacerbated by them.

Those who focus on the role of the IMF austerity program to explain growing poverty are missing some other contributing factors.

The first is the sectoral composition of economic growth. In Egypt, the sectors that have generated the most growth and created economic value are traditionally capital- and energy-intensive, and create relatively little employment—such as oil and gas, banking, and telecommunications. Some growing sectors like construction have generated jobs, but these were of low quality, requiring low skill and paying low wages. The same can also be said of tourism.

Sectors that might create jobs characterized by high productivity and wages—such as skill-intensive services and high value-added manufactured exports that require skill and technology inputs—have not grown, certainly not at a rate to influence the overall poverty data. These sectors require large public investments in education and vocational training, and in research and development, as well as an institutional infrastructure friendly for innovation and entrepreneurship. None of this has been prioritized by Egyptian governments.

Much of Egypt’s employment, at least since the 1980s, has been in the informal sector, either through self-employment or in microbusinesses that produce jobs that pay subsistence income. An International Labor Organization study in 2009 showed that 91% of the employed young people in Egypt worked informally, in jobs characterized by low productivity, low wages and no social protection. According to the World Bank’s vulnerable employment indicator, the average proportion of vulnerable employment in Egypt between 1997 and 2007, as a percentage of total employment, was as high as 24.09%.

The second factor contributing to the spike in poverty numbers has to do with redistribution. With a rudimentary capacity to collect wealth and income taxes and historically low—and declining—tax to GDP ratios, the Egyptian state has been in chronic fiscal crisis since the 1980s. This malaise has often been treated by episodic austerity measures, often under the auspices of the IMF, cutting public expenditure and raising indirect taxes on consumption. Both measures have usually resulted in throwing the brunt of fiscal-crisis management unevenly on the shoulders of the poorer and more vulnerable populations.

International financial institutions have been at least complicit in the recurrent use of these impoverishing policies as necessary reforms for stabilizing macroeconomic indicators and relaunching the economy. For decades, their so-called reforms—in Egypt as elsewhere in the Global South—have focused on stabilizing macroeconomic signals as a necessary and sufficient condition for market-led development.

The trouble is, aggregate indicators like the budget deficit, GDP growth rates and foreign reserves are too abstract, too economistic to capture the social and political dimensions and implications of the economy. The challenge is to enable more and more people, especially women and men of working age, to take part in the generation of economic value.

Instead of focusing primarily on economic growth, the IMF and other international lenders—as well as the managers of Egypt’s economy—should care more about where growth occurs, and how growth is redistributed through state expenditure and revenues.



https://www.bloomberg.com/opinion/ar...tent=economics
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Old August 21st, 2019, 01:07 PM   #26788
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I just find you francophobia bizzare and highly ironic considering that you are constantly banging on about the cultural/town-planning superiority of Europeans. Or you are just against anything French like a good 'Englishman'?

As for me, I don't trust any of these f***s, China is a very useful counterbalance to their hegemony and for that they must be supported.
Travel in Senegal, Côte d'Ivoire, Cameroon, Gabon, you'll see by yourself how young African people in this countries, hates FRANCE....The British left Africa, FRANCE is still imprisoning several African Countries...
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Old August 21st, 2019, 01:19 PM   #26789
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French only videos:

France badly seen in Africa. A French parlementary investigation in Africa:



Arrogant like a Frenchman in Africa written by a French journalist


Last edited by Umoja; August 21st, 2019 at 01:29 PM.
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Old August 21st, 2019, 01:32 PM   #26790
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Africa's French Problem

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Old August 21st, 2019, 01:36 PM   #26791
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Nigeria’s Biggest Bank May Make Deals to Expand in East Africa

Guaranty Trust Bank Plc will consider acquisitions outside its home market as Nigeria’s biggest lender by market value seeks to expand on the rest of the continent.

The company, which already has offices in 10 countries outside Nigeria, is looking to East Africa for growth, Chief Executive Officer Segun Agbaje said on a call with investors from Lagos on Tuesday. Guaranty Trust Bank, or GTB, already has operations in Kenya, Uganda, Tanzania and Rwanda, and will also consider ways of expanding existing businesses, he said.

We’ll start to look at other things, probably outside of what you are seeing us doing now, some of it might be to look at making acquisitions outside of Nigeria,” the CEO said. “In East Africa, we have to do one of two things: We either have to bring in capital or we have to think of acquisitions.”

Pre-tax contributions from units outside Nigeria rose to 16% in the six months through June from 12% a year earlier, and are expected to grow even further, Agbaje said.

GTB and other banks in the West African nation, including United Bank for Africa Plc, are looking to expand abroad following a recession in 2016 that triggered a surge in non-performing loans, from which the industry is still struggling to recover.



https://www.bloomberg.com/news/artic...rnd=markets-vp
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Old August 21st, 2019, 03:10 PM   #26792
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One must ask himself, where is EAC ?

President João Lourenço, President Kagame, President Museveni and President Tshisekedi conclude the Quadripartite Summit with the signing of an MoU committing to regional cooperation & security. The signing was also witnessed by President Sassou Nguesso





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Old August 21st, 2019, 03:19 PM   #26793
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Most of the Mountain Gorillas are in the DRC, these people are cheating, robbing on us, these tourists should travel in the DRC:

Gorilla Tour Fare No Obstacle as U.S. Tourism to Rwanda Doubles



Rwanda saw a 114% jump in tourists from the U.S. last year despite doubling gorilla-tracking permit prices to $1,500 each, the country’s top tourism official said.

The East African nation famed for its endangered mountain gorillas sold tickets for $19.2 million last year, compared with $15 million in 2016, when it doubled the cost of a permit, the agency said. The number of permits issued fell by almost a third last year, compared to 2016.

Rwanda is monitoring 329 of the primates in its territory, compared with 256 in 2017, according to the agency. There are fewer than 1,000 mountain gorillas left in the world and they can be found only on the Virunga Massif on the border of Rwanda, Uganda and the Democratic Republic of Congo, and in Uganda’s Bwindi Impenetrable National Park.

Visitors from the U.S. were the most lucrative source market, spending an average of $12,000” per person, the Rwanda Development Board’s chief tourism officer, Belise Akaliza, said on Tuesday in an interview in the capital, Kigali. Chinese nationals spent an average of $1,084, the 10th biggest spenders, she said.

Tourism is Rwanda’s biggest foreign-exchange earner and the state is seeking revenue of more than $800 million by 2024 from $438 million in 2017. Income figures for last year are still being prepared, Akaliza said.

Overall tourist numbers increased to 1.71 million visitors last year, it said, from 1.3 million in 2017.

In its annual baby gorilla-naming ceremony known as “Kwita Izina,” Rwanda will give monikers to 25 primates born in the past 12 months.

The event, which seeks to boost awareness of the endangered species and boost conservation efforts, was introduced in 2005 and is usually graced by global personalities who name the gorillas. The nation expects U.S. singer Ne-Yo, supermodel Naomi Campbell, former Manchester United Manager Louis Van Gaal and former Arsenal FC legend Tony Adams at this year’s event on Sept. 6.

As part of its marketing efforts, the Rwanda Development Board in 2018 signed a jersey deal with English Premier League soccer team Arsenal FC to have its “Visit Rwanda” logo feature on players’ left sleeves.

By the end of the first year of the agreement, 50% of the team’s fans considered the African nation a holiday destination, compared with 29% before the deal, according to Akaliza.

https://www.bloomberg.com/news/artic..._medium=social
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Old August 21st, 2019, 05:07 PM   #26794
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Most of the Mountain Gorillas are in the DRC, these people are cheating, robbing on us, these tourists should travel in the DRC:


As part of its marketing efforts, the Rwanda Development Board in 2018 signed a jersey deal with English Premier League soccer team Arsenal FC to have its “Visit Rwanda” logo feature on players’ left sleeves.

By the end of the first year of the agreement, 50% of the team’s fans considered the African nation a holiday destination, compared with 29% before the deal, according to Akaliza.

https://www.bloomberg.com/news/artic..._medium=social
Rwanda have really marketed themselves well ofcourse DRC has far more to see but there is no tourism infrastructure & security.

I mean they are even on arsenals jersey. SADC & EA have been the traditional 'safari' destinations but well done to rwanda they are doing it when they even have less things to see when compared to other SSA nations.
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Old August 21st, 2019, 05:34 PM   #26795
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[IMG class=inlineimg]https://www.skyscrapercity.com/images/smilies/previous.gif[/IMG] He makes an emotionally charged, bizarre economic-theories filled butthurt post against Rwanda every once in a while. When he does, the best thing to do is to not reply, this is what the doctor said.

Ne-yo as well is confirmed to be present for this year's Kwita Izina and football player Thierry Henry is rumored he will come as well. This is awesome.
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Old August 21st, 2019, 05:47 PM   #26796
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Can a Chinese import ever be authentically African?

Kitenge is made in China, but sold, worn and inscribed with meaning in Kenya.

On Gaborone Road in Nairobi’s central business district, you can find at least a couple multi-storied pavilions like the Nairobi Textile Building, packed with dozens of stalls, each lined from floor to ceiling with African fabrics, their spines stacked like books in a library. These fabrics are generally referred to in Kenya as kitenge, a term that usually encompasses Dutch wax print, ankara, hollandais, and other more modern takes on traditional patterns from around the continent.

The most popular brand of kitenge in Kenya – or certainly the most widely distributed – is Anningtex. This company name immediately gives away its origin: not Africa. “An” stands for Anhui, “Ning” for Ningbo. Sold in packs of six yards, each Anningtex product also bears a gold-foil label with a contact number that starts with +86, the country code for China.

Anningtex is hardly the only Chinese company that produces “African fabrics”. In fact, the vast majority of kitenge in Kenya is made by a few Chinese companies and includes brands like Buwanas, Hitarget, Sanhe, and Orientar Java. Some are discreet about their origin; others print “Made in China” right on the label.

For many, this fits perfectly into a familiar globalisation horror story – one in which authentic cultural production fails to survive cheap, mass-produced imitations manufactured abroad. We might think of Kano in northern Nigeria where centuries-old indigo dye pits, incapable of competing with cheaper alternatives, sit choked with trash. Or Ghana’s textile production centres, once a symbol of self-sufficiency and built to localise African textile production, but now shuttered. At best, a valuable craft is dying; at worst, outsiders are both killing and profiting off cultural work at once.

Kenya’s Chinese-made kitenge seems like another example of this, but is it? To whom does kitenge belong? A deeper look suggests the reality is more complex. In fact, there are three stories we can tell about kitenge. Each suggests a different way to think about ownership and authenticity.

Story 1: Culture has many parents but no owners

The first story says that culture is far less pure than we usually assume. It suggests that cultural objects can rarely be traced to a single source and that, as a result, no one can really claim ownership over anything.

The first company to produce wax print was a Dutch outfit called P.F. van Vlissingen and Co. (Vlisco). Established in 1846, the company developed a mechanical method for reproducing handmade Javanese batik prints, intending to sell these cheaper products back to colonial subjects in the Dutch East Indies. This endeavour failed because Indonesians preferred the handmade originals to the machine-made copies, so European printers turned to the British Gold Coast (modern day Ghana) and honed designs to local tastes. Even though wax print production was localised in some cases, as in Ghana under Kwame Nkrumah, tracing this quintessentially “African” fabric to its “true origins” takes us to Holland or Java rather than the continent.

This first story sees China’s manufacturing of kitenge as an echo of this history. It points out that kitenge was never produced in Kenya and has only been popular for a few decades. Culture is created by agents of “contamination”, the argument goes, especially in today’s increasingly connected world. The conclusion then is that Kenyans should not question Anningtex’s authenticity or that there is little use in doing so since there is no such thing as a pure cultural product anyway.

Story 2: Culture is inscribed with meaning by its users

The second story we can tell about kitenge says that ownership does not lie in where an object happens to be made, but in the collective relationship that people have built into it.

To explore this story, we need to go back to 1963 when Kenya gained its independence. Under British colonialism, traditional wear had been banned, but post-independence, dress became part of a national intention to shift the centre of gravity from Europe to Africa. Neither Western nor “backwards,” kitenge soared in popularity.

According to this reading, one could argue that while kitenge is not made in Kenya, it is Kenyan in that it is African – and thus it belongs to Kenyans. For Kenyans, kitenge tells a story of pan-African belonging, solidarity, and identity. In this reading, Kenyans are not victims of Anningtex’s domination but rather agents with a valid claim to ownership of their own. Following this logic even further, one could even suggest that, since the 1990s, when new printing technologies made kitenge cheaper and more accessible to the working class, Chinese companies have actually facilitated Kenyans in expressing their African-ness.

This story says that a cultural object’s authenticity lies in its ability to embody both personal and national memories, stories, and pride. Writing about West Africa, anthropologist Nina Sylvanus suggests that the reason Chinese-made wax prints aren’t considered authentically African (while Dutch-made ones are) is because they have not been around long enough for a social infrastructure – for example, mother-to-daughter inheritances, fabric as investment and as dowries – to have been built around them. In other words, African-ness forms within the alchemy between global goods and local people over time. At the end of the day, the second story goes, kitenge in Kenya are an archive of stories, which do not become less valid depending on where they are made.

...



https://africanarguments.org/2019/08...rican-kitenge/
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Old August 21st, 2019, 05:50 PM   #26797
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[IMG class=inlineimg]https://www.skyscrapercity.com/images/smilies/previous.gif[/IMG] He makes an emotionally charged, bizarre economic-theories filled butthurt post against Rwanda every once in a while. When he does, the best thing to do is to not reply, this is what the doctor said.

Ne-yo as well is confirmed to be present for this year's Kwita Izina and football player Thierry Henry is rumored he will come as well. This is awesome.

Has Rwanda been fiddling its numbers?

A country viewed by many as a model may not be doing as well as it claims

At the heart of Rwanda’s capital sits the Kigali Convention Centre, a $300m monument that lights up the night with the national colours of blue, yellow and green. It symbolises modernity and prosperity in a country that has bounced back from a genocide in 1994 when perhaps 500,000 people, mostly Tutsis, were killed.

As impressive as the skyline are Rwanda’s economic statistics. In the past decade the economy has expanded by 8% a year. The share of people classified as poor has fallen by seven percentage points since 2011, to 38% in 2017.

Numbers such as these impress investors, donors and other African leaders. Many see Paul Kagame, the former general who ended the genocide and has called the shots in Rwanda ever since, as providing a model of development: that of an authoritarian who gets things done and helps the poor, even if he also tramples human rights. But what if the numbers are wrong?

Questions have hung over Rwanda’s statistics since the government claimed in 2014 that poverty had declined to 39% from 45% in 2011. A closer examination of the data by Filip Reyntjens of the University of Antwerp found that the fall was largely due to a change in how it calculates the numbers. In 2011 Rwanda’s poverty line reflected the cost of consuming a basket of the foods that poor Rwandans were buying. For its 2014 calculation the agency replaced some low-calorie items the poor tend to buy with higher-calorie foods they could have bought instead. By changing the basket the agency reduced the income level that defines poverty by 19%.

Had Rwanda used the same basket in both periods, the academics argued, the poverty rate would have increased by five to seven percentage points (depending on the basket). Rwanda’s statistics agency denies this, saying that poverty declined even if comparable poverty lines are used.

But its rebuttal relied on an estimate of inflation that has invited new questions. One academic who has dissected the price figures is Sam Desiere of the University of Leuven in Belgium. He thought the official rate of food inflation was curiously low at 5.3% a year. After recalculating the figure using the statistics agency’s own survey data on how much households were spending, Mr Desiere found that food prices had increased by 9.4% a year. Other academics looking at the same data reckon that rising prices alone may have increased poverty by seven percentage points.

These jumps in poverty, if indeed they took place, are surprising, given Rwanda’s rapid gdp growth of 8% a year. But some academics are questioning whether growth has been overstated, too. As evidence they point to a sharp divergence between two different official measures of consumption per person. In the national accounts, consumption is totted up across the economy and divided by the population. Then there are household surveys, in which people are asked how much they spend and consume. Both measures usually move together. In Rwanda they did until 2005. But since then the national accounts have shown consumption rising even as survey data showed it stagnating. By 2013 the gap between the two had widened to 50%, according to some economists.

One reason for this could be that the benefits of economic growth went to a small elite, whose spending is poorly captured by household surveys. Other countries, such as India, have also seen a widening gap between the two measures. Another explanation is that robust economic growth in the national accounts has been overstated.

The latter does not seem far-fetched if one looks at farming, which accounts for about 30% of gdp. It has been an important contributor to economic growth. Yet when Mr Deseire looked at the official figures claiming a 55% increase in crop yields between 2006 and 2013, he concluded that they were probably inflated. Other data sources suggest that the increase may have been only 20% or so.

Questioning Rwanda’s statistics may seem to be no more than quibbling over numbers. But at stake is Mr Kagame’s reputation, and that of the developmental model he embodies. ■



https://www.economist.com/middle-eas...ng-its-numbers
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Old August 21st, 2019, 06:23 PM   #26798
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You post the same article 2 times? Double butthurtness.
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Old August 21st, 2019, 07:03 PM   #26799
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Economic Growth is Making Many Egyptians Poorer



Reforms championed by international agencies have stabilized macroeconomic indicators, but they’re not creating jobs.



Since the country’s statistics authority released figures on poverty rates indicating a 5% rise over the past three years. This is a period in which growth has spiked, thanks in no small part to a continuously rising foreign debt.



It is easy to interpret the poverty numbers as the social impact of the International Monetary Fund-prescribed reform program that kicked off in November, 2016, including the massive devaluation of the pound, followed by rounds of subsidy cuts and increases in consumption taxes. These measures, some commentators argue, have impoverished many Egyptians, despite the stable macroeconomic indicators—for instance, inflation is under control, interest rates have been reduced, and the exchange rate has been steady.



But the trend in the poverty data long precedes the recent IMF program. Official statistics show that poverty rates have increased steadily since the early 1990s; the rate has almost doubled since 2000. The recent hike is a continuation of an older and consistent trend that either went untouched by rounds of fiscal and monetary reforms under the auspices of the IMF and the World Bank, or was exacerbated by them.



Those who focus on the role of the IMF austerity program to explain growing poverty are missing some other contributing factors.



The first is the sectoral composition of economic growth. In Egypt, the sectors that have generated the most growth and created economic value are traditionally capital- and energy-intensive, and create relatively little employment—such as oil and gas, banking, and telecommunications. Some growing sectors like construction have generated jobs, but these were of low quality, requiring low skill and paying low wages. The same can also be said of tourism.



Sectors that might create jobs characterized by high productivity and wages—such as skill-intensive services and high value-added manufactured exports that require skill and technology inputs—have not grown, certainly not at a rate to influence the overall poverty data. These sectors require large public investments in education and vocational training, and in research and development, as well as an institutional infrastructure friendly for innovation and entrepreneurship. None of this has been prioritized by Egyptian governments.



Much of Egypt’s employment, at least since the 1980s, has been in the informal sector, either through self-employment or in microbusinesses that produce jobs that pay subsistence income. An International Labor Organization study in 2009 showed that 91% of the employed young people in Egypt worked informally, in jobs characterized by low productivity, low wages and no social protection. According to the World Bank’s vulnerable employment indicator, the average proportion of vulnerable employment in Egypt between 1997 and 2007, as a percentage of total employment, was as high as 24.09%.



The second factor contributing to the spike in poverty numbers has to do with redistribution. With a rudimentary capacity to collect wealth and income taxes and historically low—and declining—tax to GDP ratios, the Egyptian state has been in chronic fiscal crisis since the 1980s. This malaise has often been treated by episodic austerity measures, often under the auspices of the IMF, cutting public expenditure and raising indirect taxes on consumption. Both measures have usually resulted in throwing the brunt of fiscal-crisis management unevenly on the shoulders of the poorer and more vulnerable populations.



International financial institutions have been at least complicit in the recurrent use of these impoverishing policies as necessary reforms for stabilizing macroeconomic indicators and relaunching the economy. For decades, their so-called reforms—in Egypt as elsewhere in the Global South—have focused on stabilizing macroeconomic signals as a necessary and sufficient condition for market-led development.



The trouble is, aggregate indicators like the budget deficit, GDP growth rates and foreign reserves are too abstract, too economistic to capture the social and political dimensions and implications of the economy. The challenge is to enable more and more people, especially women and men of working age, to take part in the generation of economic value.



Instead of focusing primarily on economic growth, the IMF and other international lenders—as well as the managers of Egypt’s economy—should care more about where growth occurs, and how growth is redistributed through state expenditure and revenues.







https://www.bloomberg.com/opinion/ar...tent=economics


Im not convinced about Egyptian ‘statist’ being sustainable in the long term. I think of Turkey, Argentina and others.
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Old August 21st, 2019, 08:18 PM   #26800
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I just find you francophobia bizzare and highly ironic considering that you are constantly banging on about the cultural/town-planning superiority of Europeans. Or you are just against anything French like a good 'Englishman'?

As for me, I don't trust any of these f***s, China is a very useful counterbalance to their hegemony and for that they must be supported.
These f***s are democracies...Keep supporting China until you get a taste of what they really are...or just ask Tibetans, Muslims and Hong Kongers...
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