Africa: Growing Economic Powers Reinvigorate South-South Co-Operation

analysis

The benefits of south-south co-operation (developing countries sharing resources) are appearing in a fresh light. Emerging economies, notably China and India, are grabbing headlines as growing financial powers that are substantially increasing their investments in Africa and Asia. Justifiably so, as together the two countries account for one-fifth of the global economy and are projected to represent a full third of the world's income by 2025.

While the financial crisis still casts a shadow over many countries, India's trade with Africa has jumped to $40bn in the past few years. In addition, the United Nations Conference on Trade and Development estimated that, between 1996 and 2006, developing economies provided more than $17bn of foreign investment in Africa and $27bn of investment in Asia.

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