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An economic rebound among some countries has been evident in recent years, however. [31] The dawn of the African economic boom (which is in place since the 2000s) has been compared to the Chinese economic boom that had emerged in Asia since late 1970s. [32] In 2013, Africa was home to seven of the world's fastest-growing economies. [33]
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
Economic History of Developing Regions 2015. 30(1), 79–94. Curtin, Philip. The Atlantic Slave Trade: A Census. Madison: University of Wisconsin Press, 1969. Daniels, Rudolph. "The Nature of the Agrarian Land Question in the Republic of South Africa." The American Journal of Economics, July 2006, pp. 1–16; Fage, J.D.
Economic geography is the subfield of human geography that studies economic activity and factors affecting it. It can also be considered a subfield or method in economics . [ 1 ]
The African Economic Community (AEC) is an organization of African Union states establishing grounds for mutual economic development among the majority of African states. [1] The stated goals of the organization include the creation of free trade areas , customs unions , a single market , a central bank , and a common currency (see African ...
The mountains are an exception to Africa's general landscape. Geographers came up with the idea of "high Africa" and "low Africa" to help distinguish the difference in Geography; "high Africa" extending from Ethiopia down south to South Africa and the Cape of Good Hope while "low Africa" representing the plains of the rest of the continent. [9]
The first evidence of pottery and agriculture in South Africa can be found in the period of 350-150 BCE, while metals date back to the 52-252 CE period. [4] The earliest occurrence of cattle farming was in the 5th century CE and the Iron Age reached modern-day Kwa-Zulu Natal around 700 CE.
The economy of Namibia has a modern market sector, which produces most of the country's wealth, and a traditional subsistence sector. Although the majority of the population engages in subsistence agriculture and herding, Namibia has more than 200,000 skilled workers and a considerable number of well-trained professionals and managerials.