The global economy has, since the turn of the
century, seen vast shifts in production and
trade patterns alongside the emergence of
new growth poles in the South. The rapid rise of
economic powers such as China, India and Brazil,
the continuing financial and economic problems
of industrialized countries, and ways of doing
business revolutionized by advances in technology
have taken the world into a new phase of
globalization. This evolving order presents Africa
with challenges as well as opportunities which, if
met by effective policies, could lead to substantial
socio-economic and political transformation,
propelling the continent as a new pole of global
growth.
