Developing countries as the new global growth engineContribution to world GDP, PPP growth

Source: IMF (2010)

New optimism in Africa

The Economist, 6 February 2011

“Sub-Saharan Africa in 2011 has an unprecedented opportunity for transformation

and sustained growth” Verdsbanken

• Reasons: – Sustained economic growth since the nineties– Stability, democracy– Robust economic reforms– Increased revenues from exports of natural

resources– Increased consumption

Shares of emerging and traditional partners in Africa’s trade 1992-2009

(in percentage)

Source: OECD Development Centre calculations based on ComTrade Data

Sources of African FDI inflows 1995-2008

Source: UNCTAD, OECD

Distribution of Africa’s total trade with emerging partners (2009, in percentage)

Source: OECD Development Centre calculations based on ComTrade data.

Shifting Wealth, OECD, 2010, p. 74

Shifting Wealth, OECD, 2010, p. 88

However, new dependency?