A critical question is whether Africa’s surge represents a one-time event or an economic take-off. The continent’s growth also picked up during the oil boom, but slowed sharply when oil and other commodity prices collapsed during the last years.
Today, individual African economies could suffer many disappointments and setbacks. While short-term risks remain, Africa has strong long-term growth prospects, propelled both by external trends in the global economy and internal changes in the continent’s societies and economies.
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