Africa is rising: income increasing dramatically, most will reach middle incomes

2

Comments

  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited December 2011
    sionb55 wrote: »
    this is true.... but that's not to say that the US dollar will be "worthless". It'll still be very valuable but b/c the US is a 15 trillion dollar economy & can't grow at the same rate as it's much smaller competitors (Canada, some euro countries & China) the dollar isn't going to be worth as much as it is now in the long run. The Africans know this as does much of the world.... I hope....

    I'm sure they do know this as business with China and other nations is taking more and more priority for African nations. America will still be a force to be reckoned with but other nations will probably be more important for business than America in the future. Brazil, China, India, and other developing nations will be needing more and more natural resources and that means big business for Africa in the future. I hear China is also investing in creating railroads and other infrastructures while hiring many Africans, so the money rolling into African nations could be pretty sweet in the long run. Let's just hope govts there don't squander the wealth like Nigeria has done in the past.
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited December 2011
    I sure hope so Sion I sure hope so. Africa is gonna see huge population growth so if govts there aren't on point, we're gonna see more and more of the same problems. Aside from Somalia, I havent heard many stories of famine or starvation coming out of Africa this year so it seems some stability is starting to take place there. I also didn't know Saudi Arabia and Russia signed trade treaties with Africa, that's good news.
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited December 2011
    Just saw an interesting link, I did some research on what Sion said and here's what I found.......

    http://af.reuters.com/article/nigeriaNews/idAFL4E7N21KP20111202

    Forget China, invest in Africa says Russia's Renaissance

    By Charmian Kok

    SINGAPORE Dec 2 (Reuters) - Investors should forget China and park their money in sub-Saharan Africa if they wish to benefit from the growth in emerging markets, the chief investment officer at Russia's Renaissance Asset Managers said on Friday.

    "Africa reminds me of China back in 1999. If you missed China then, don't do that now," Plamen Monovski told Reuters in an interview. "It's the last place in the world that is due for that rapid change and advancement."

    Africa, once shunned by most investors, is beginning to attract interest from some of the world's largest banks and corporates.

    Singapore commodities firm Olam International Ltd this week announced plans to invest about $100 million in Nigeria, while Standard Chartered's private bank said in October it planned to set up an onshore presence in Kenya.

    Investors should turn to Africa where equities are trading at "exceptionally cheap" levels as the continent is benefitting from Chinese demand for natural resources as well as investments by the Asian giant, Monovski said.

    Monovski, who joined the fund management arm of Russia's Renaissance Capital from Blackrock last year, helps manage $2.5 billion of assets.

    The firm's products include a sub-Saharan fund which counts South African telecom firm MTN Group Ltd and Nigerian Zenith Bank Plc among its top holdings. The fund has, however, fallen about 17 percent since its inception in October last year due to dampening appetite for riskier assets.

    Renaissance is more bullish on Africa's infrastructure, consumer-related and financial sectors, which will benefit from the region's growing prosperity, rather than commodities.
  • EuropeanAndWhite
    EuropeanAndWhite Members Posts: 520
    edited December 2011
    Africans can use their own currency, it's not all about the American dollar. The dollar is a slowly falling ship, so nations will have to rely on their own currencies and others aside from the USA to survive in the long run. The way the dollar is going with 15 trillion in debt, Africa will eventually rely less and less on the dollar, so it's whatever at this point.

    and what the ? else should they rely on? dollar is the worlds reserve currency thats what our global monetary system is built on (unfortunately).
  • Swiffness!
    Swiffness! Members Posts: 10,128 ✭✭✭✭✭
    edited December 2011
    Darxwell wrote: »
    crackers will come along and ? it up like they always do.

    I usually enjoy Darcskies' cynicism, but this is borderline *Uncle Ruckus voice* "CUZ WE ? ! AND THAT'S ALL WE EVER GON' BE!!!".

    Like, cheer up bruh. Brothers Gonna Work It Out someday....
  • Swiffness!
    Swiffness! Members Posts: 10,128 ✭✭✭✭✭
    edited December 2011
    and what the ? else should they rely on? dollar is the worlds reserve currency thats what our global monetary system is built on (unfortunately).

    you're talking to ppl that don't know ? about how that works past "welp, the dollar is doomed, buy gold"

    lol remember when Jay-Z was flashin Euros in music video and Tom Brady wife only wanted to be paid in Euros?

    my my how things change

    and ? still want no parts of China's wack ass currency, soooo

    AMERICAAAAAAAAAAA ? YEAH
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited December 2011
    Swiffness! wrote: »
    you're talking to ppl that don't know ? about how that works past "welp, the dollar is doomed, buy gold"

    lol remember when Jay-Z was flashin Euros in music video and Tom Brady wife only wanted to be paid in Euros?

    my my how things change

    and ? still want no parts of China's wack ass currency, soooo

    AMERICAAAAAAAAAAA ? YEAH

    Do you think the dollar will be the world's reserve currency in 2050-2060? With 15 trillion dollars in debt and rising?
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited December 2011
    Young-Ice wrote: »
    I heard gadaffi was wanted dead because he wanted to unite africa and change the currency to gold so they would profit better, but americans would be ? so they wanted him dead

    I believe this is very true. ? like this is the American way ask Saddam Hussein.....
  • EuropeanAndWhite
    EuropeanAndWhite Members Posts: 520
    edited December 2011
    sionb55 wrote: »
    Yup, Im 100% confident in that too. The Americans are gonna start de-leveraging that debt in 3-5 years watch & see. They just need to get unemployment down & things stable first. & Ill bet u the Chinese, Japanese & Europeans will be the first in line. I wish Canada would be too cuz we'd really jump up a few notches on the worlds largest economies list if we did....

    yeah and how? your whole industry is in china where they build the cheap ass stuff americans buy later. globalization ? itself in the ass and i dont think things will just go back to normal this time. either ? melts down or we will struggle with the current system for the next 10-20 years before WW3 breaks out.
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited December 2011
    sionb55 wrote: »
    Too bad most of the U.S. jobs AREN'T in China fam. Manufacturing might move some business to China but there are far more industries like banking, energy, industrials, construction & more that offer jobs and will aid in lowering unemployment. One solution the Americans could look about is to start raising taxes & stop with all the cuts to various programs. Create more job incentives (just as Obama has done this year) & over time things will work itself out & the unemployment rate will come down. At its peak unemployment was 11.8% & now it stands at 8.6%. There are powerful economies like Switzerland & China who have unemployment & all the surplus in the world but can't bring down their unemployment not even 1%. But when u can do 3% on a 15 trillion dollar economy that is ? phenomenal.

    Nah things are getting better in the U.S. & just recently the EU just signed a Fiscal Pact. I think one problem people of this generation have is that they dont look at their history so often times u get ppl sayin that "it's the end" b/c they havent lived thru a recession where it can actually affect them (as oppose to growing up as a child & being oblivious to the economy). This has happened before & it will happen again but the good news is that its not common. Usually after long bouts of prosperity things go downhill. You have to learn to understand & accept the truths tho fam.

    Most jobs aren't in China and the economy here in America is getting better, I agree. However, the QUALITY of jobs here in America is falling off, a lot of it due to outsourcing. Your optimism on America and its dollar is inspiring, but what do you say to the studies that show most new job growth is in low wage industries? How can America rebound strong if most new jobs being created won't help college grads pay off their trillion dollars in debt? Student loans now are higher than America's credit card bills. I'd love to sound just as optimistic on America but the quality of jobs being created these days isn't very inspiring based on what I see in the news.
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited December 2011
    yeah and how? your whole industry is in china where they build the cheap ass stuff americans buy later. globalization ? itself in the ass and i dont think things will just go back to normal this time. either ? melts down or we will struggle with the current system for the next 10-20 years before WW3 breaks out.

    Many truths here and the sad thing is many of those manufacturing jobs aren't coming back. The economy supposedly is getting better but I wonder if these new jobs being created are just holiday jobs, the unemployment rate will be very interesting around February.
  • Huruma
    Huruma Members Posts: 2,284 ✭✭✭
    edited December 2011
    Under the most optimistic scenario,

    This sounds like good news but what's the least optimistic projection?
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited December 2011
    sionb55 wrote: »
    Men lie women lie but the numbers don't. The bolded is ridiculous. So why would one graduate & work in a low wage industry & then be mad he/she can't pay off their student loans ? Make sense ? . American business is coming back across the board. Unemployment is one thing but its not the only thing that will help the Americans rebound. Employment will help create surplus but u want American business to be profitable b/c that is what will innovate & help redefine America. As for the trade deficit, u call me optimistic as if Im oblivious to what's going on. Ive predicted so far everything that has happened as for the trade deficit not being able to be paid off ?

    http://www.businessweek.com/news/2011-12-11/u-s-trade-deficit-shrank-in-october-to-lowest-this-year.html
    Men lie women lie but numbers don't.

    Trade deficit fell 1.6% this year the lowest in a year. The quality jobs are there, they're not disappearing at the rate u proclaim it. There will always be quality jobs in America. Diff't economic cycles will affect that but at the end of the day to say that quality jobs wont be available in the world's largest economy & the world superpower is beyond stupid fam. Job growth is low right now b/c the U.S. is trying to stabilize itself & come out of one of the worst economic cycles in a very long time.

    China wont take all the jobs away, America will always be #1, prosperity will return. It will be difficult in the short term but in the end well get there. This country has seen 15 recessions since it's inception & came out #1 in every instance. This isn't the great depression, this isnt the 70s. It's bad but not as bad as those periods in time. That's why Im confident the Americans will come back.

    Encouraging.....perhaps you are right. I guess Africa would be wise to continue to do business with America than, even in the deep future.
  • wheelbarrow1
    wheelbarrow1 Members Posts: 1
    edited January 2012
    I am not a black man, but listen to this black people: I would put all of my money into Africa (not Muslim Africa) if I had any investment $$$. I believe in Africa and Africans, American blacks give all black people a bad name.
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited January 2012
    I am not a black man, but listen to this black people: I would put all of my money into Africa (not Muslim Africa) if I had any investment $$$. I believe in Africa and Africans, American blacks give all black people a bad name.

    In what way?
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited January 2012
    Still waiting for Wheelbarrow's response.......
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited January 2012
    sionb55 wrote: »
    Yo ? wheelbarrow but let me add my 2 cents cuz we were talkin about this on the GnS last year....

    IMO Foreign blacks work harder & take advantage of opportunities. African Americans whine & come off lazy. Foreign blacks are used to hardship, you go to places like Jamaica, Nigeria, parts of Africa, etc. & what's considered to be the bottom over there would NEVER be allowed in North America. Yall got running water, social assistance programs, no WARS or famine, free education until post-secondary, running water, food banks, etc. and in Africa, in a lot of places they don't even have anything like that.... yet you bring a foreign black to North America and they take full advantage to the best of their capabilities (& knowledge).

    In America we get what 7-10 years of prosperity & then a recession ? In African countries they get hit by a recession & stay there for 10-15 years.... ? imagine being born a woman in Africa..... African women couldn't get away with HALF the ? African-American women get away with w/o being stoned, ? or murdered SMH.

    You have many solid points, sadly lol. My parents are from the Caribbean and said all the time African Americans should and can work a little harder. In school I would often notice the 2nd generation African and Caribbean kids like myself joked around less in class and got more of the honors. My only disagreement with you is that I see more and more adult Africans and Caribbeans complaining about the state of this nation. My homeboy is from Nigeria and complains more about America than I do lol. Same goes with his family whom I talk to. As far as African women, you are right for the most part! African American women here get away with a whole lot more here, especially compared to Muslim nations, they don't treat women too well over there (in the Muslim nations specifically)
  • High Revolutionary
    High Revolutionary Members Posts: 3,729 ✭✭✭✭✭
    edited January 2012
    You have many solid points, sadly lol. My parents are from the Caribbean and said all the time African Americans should and can work a little harder. In school I would often notice the 2nd generation African and Caribbean kids like myself joked around less in class and got more of the honors. My only disagreement with you is that I see more and more adult Africans and Caribbeans complaining about the state of this nation. My homeboy is from Nigeria and complains more about America than I do lol. Same goes with his family whom I talk to. As far as African women, you are right for the most part! African American women here get away with a whole lot more here, especially compared to Muslim nations, they don't treat women too well over there (in the Muslim nations specifically)

    Not saying you're wrong but a lot of foreign blacks don't have the legacies of African Americans.
  • Olorun22
    Olorun22 Members Posts: 5,696 ✭✭✭✭✭
    edited January 2012
    Not saying you're wrong but a lot of foreign blacks don't have the legacies of African Americans.

    How We all from africa
  • High Revolutionary
    High Revolutionary Members Posts: 3,729 ✭✭✭✭✭
    edited January 2012
    When I say "legacies" I mean African Americans history. During slavery families were broken up, slaves were denied education for a hundreds of years, taught to hate themselves, Jim Crow, stripped of their customs and indigenous religions etc. This all had an adverse effect on African Americans to this day.
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited January 2012
    sionb55 wrote: »
    Its a crazy world man....

    Hey you said you're caribbean right ? I always got the vibe you were Jamaican. My family from Mandeville Jamaica, what part of the caribbeans are you from fam ??

    Oh that's whats up bro. My dad is from Colon, Panama but his fam are straight Jamaican. His fam went to Panama to help build the Panama Canal. My mom was born in a tiny village that was destroyed by the Haitian earthquake. It's a blessing she came to America in time. I personally was born in Brooklyn. I actually have fam in Canada.....small world lol
  • kingblaze84
    kingblaze84 Members Posts: 14,288 ✭✭✭✭✭
    edited January 2012
    When I say "legacies" I mean African Americans history. During slavery families were broken, slaves were denied education for a hundred years, taught to hate themselves, Jim Crow, stripped of their customs and indigenous religions etc. This all had an adverse effect on African Americans do this day.

    I agree completely, I'm very well aware of the extreme evil African Americans went through here in America. I tell my fam that and most understand. Some still want to be ignorant about its effects and they ALWAYS get quiet when I mention how you can't be a normal person anymore when you went through 300 years of ? , murder, and the selling of your brothers, mothers, and fathers. The effects of slavery are very obvious till this day in the African American community, and believe me, those effects can be seen in Caribbean countries too. White crackas did a number on Black folk. Their evil has left a strong after taste, and it's the reason.....okay I'm gona be quiet now haha
  • garv
    garv Confirm Email Posts: 4,080 ✭✭✭
    edited January 2012
    When I say "legacies" I mean African Americans history. During slavery families were broken up, slaves were denied education for a hundreds of years, taught to hate themselves, Jim Crow, stripped of their customs and indigenous religions etc. This all had an adverse effect on African Americans to this day.

    Hmm and i'm sure the countless genocides that happened on the continent due to European influence isn't just as bad?
  • High Revolutionary
    High Revolutionary Members Posts: 3,729 ✭✭✭✭✭
    edited January 2012
    garv wrote: »
    Hmm and i'm sure the countless genocides that happened on the continent due to European influence isn't just as bad?

    Yes it is just as bad, which is why Africa is in bad shape today. But Africa is a continent composed of many countries, and not all the countries went through the same things as one another which is why I said "a lot of foreign blacks".

    But I don't want to go ? for tat comparing atrocities.
  • Swiffness!
    Swiffness! Members Posts: 10,128 ✭✭✭✭✭
    edited January 2012
    When I say "legacies" I mean African Americans history. During slavery families were broken up, slaves were denied education for a hundreds of years, taught to hate themselves, Jim Crow, stripped of their customs and indigenous religions etc. This all had an adverse effect on African Americans to this day.

    HURR DURR NOT ACCORDING TO CONSERVATIVES LOLOLOLOL

    ahh, america