What will happen to Western economies if Africa is ever lifted out of debt/poverty?

Question

In order for Africa to be lifted out of debt/poverty, the Western capitalists will have to stop exploiting Africa. If this ever does occur, how can our capitalist economies in the west function without exploitation?

Answer 1

First of all, there is no relationship whatsoever between debt and poverty. One of the most heavily indebted nations of the world is in fact Japan, which is far from poor; there are plenty of heavily indebted nations in Europe as well...

So what will happen to Western economies if Africa is ever lifted out of poverty? Pretty much nothing. Africa, unfortunately, is a very small part of the world economy and even smaller part of world trade. So whatever happens in Africa tends to have very little impact on the rest of the world...

The World Bank classifies countries into three major groups, low-income countries, middle-income countries, and high-income countries. Low-income countries (there are 54 of them, over 30 of them are in Africa) as a group account for about 3% of world GDP; the combined size of these 54 economies is less than that of Italy. Even if low-income countries as a group nearly quintuple their per-capita GDP (which will put them in the middle of the middle-income group and make the combined size of their economies bigger than that of Japan), they will still account for less than 13% of the world GDP... Sadly, though, it doesn't look like this is going to happen any time soon...

Answer 2

Ahh, once again, basic economics thrown out the window in favor of irrational emotional hatred of capitalism.

The richer Africa gets, the more Western products they buy. Almost an entire Continent is too poor to buy Western products. A new market of 1 billion people now capable of buying computers, software, cars, TVs, electronics, and on and on and on.

I was also not aware of the giant presence of American corporations in Rwanda, Congo, Zimbabwe.... Those people would kill for some of those exploitative jobs that you look down upon.
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Answer 3

I see it's the West fault again. Name one African country ruled by the West. Africa is responsible for the state they are in, not the West. Look at all the aid the West has been sending there for decades. Get real, not everything wrong in the world is the fault of the West or the White man.

Answer 4

correction - the worst thing the western world has done in the past two decades is send aid to africa. it only makes the problem worse, as the vast majority of african economists at schools in Kenya, Egypt, Nigeria and South Africa frequently point out. the exploitation is intrastitial and homegrown. political and social instability on the scale you find in africa is so overwhelmingly detrimental to economic development that no western nation could possibly realize any true gain from "exploiting" african resources. they are merely the beneficiaries of endemic corruption across sub-saharan africa.

Answer 5

What will happen would not be the problem of the west along. Yes world capitalist system will be turned to "predatory capitalism" because the global competition will be fiercer and stiffer, but healthier.

Answer 6

the hopes of that are slim however ,i wish only the best for the children suffering from the toxins put there by famine