Akinwumi Adesina, a Nigerian politician and new president of the African Development Bank, must be aware of the consequences for Africa of China’s economic slowdown (photo: dpa)

African Development Bank’s new leader has chance to break with flawed strategy

While Western investors get jittery when there is bad news from Beijing, the big losers from China’s slowdown are in Africa. The continent is heavily dependent on Chinese investments and its huge appetite for raw materials. If the Chinese authorities decide that Africa is no longer a priority, many economies will suffer badly.

<i>African growth is particularly vulnerable because it has been fuelled by costly infrastructural projects, financed by public debt. The outcomes have not been impressive, while the condition of public finances in many countries has markedly deteriorated. Two main policy courses are open, each offering a key role to the Africa Development Bank (AfDB) and ...

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Professor Enrico Colombatto
More deficit spending would likely aggravate the financial situation of several African countries and further rattle foreign investors, who fear higher taxation, legislative uncertainty and political turmoil
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