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South African President Cyril Ramaphosa addresses the opening ceremony of the Beijing Summit of the Forum on China-Africa Cooperation, on Sept. 3, 2018

Dim prospects for developing countries

Developing countries are facing some favorable global conditions, with cheap financing, rising commodity prices, and foreign investors looking for opportunity. But three roadblocks will prevent improved growth in Africa and other developing economies: government involvement in the market, an outsize bureaucracy, and an undereducated labor force. The solutions now being pursued, from a new African trade bloc to Chinese investment, are not likely to succeed.

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