Africa: Living on the Fringe

Abstract

Let us consider first some facts which are hardly mentioned by the incense-bearers of globalization. In 1990, the ratio of extra-regional trade to GDP for Africa was 45.6 percent while it was only 12.8 percent for Europe; 13.2 percent for North America; 23.7 percent for Latin America; and 15.2 percent for Asia. These ratios were not significantly different throughout the twentieth century. The average for the world was 14.9 percent in 1928 and 16.1 percent in 1990.

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