Lessons on Development from Asia to Africa

Commenting on the International Cooperation on African Development fifth meeting held in Tokyo between 1-3 June Joseph Stiglitz argues that the Asian countries model can be of interest in the African continent. Stating recent data in which five of the World’s ten fast growing countries are in Africa he confirms the new prospects of the continent. From agriculture to manufacturing the continent’s leaders have to think the future of their economies and their respective comparative advantages. “The world has changed markedly since East Asia began its remarkable developmental transition more than a half-century ago; and differences in history, institutions, and circumstances mean that policies must be adapted to local conditions.” This mode of action and thinking can be beneficial for African leaders in order to build their proper institutions and tools for development departing from the failed paradigm imposed by the Washington Consensus”