Africa

On April 9, the study group met for the third time to examine economic development in Africa. The group explored connections between politics and economic growth trajectories across the continent, and analyzed the role of political instability and policy decisions in fostering development. Discussions covered the impact of factors like commodity markets, foreign aid, trade deals, and regional integration initiatives on development indicators. The study group counted with the presence of external expert guest H.E. Patrick Achi, former Prime Minister of Côte d’Ivoire. Prime Minister Achi shared about his experience at the highest level of government and presented the story of Côte d’Ivoire’s post-independence development as a microcosm of the broader challenges and opportunities facing African nations.

Africa is home to approximately 1.4 billion people[1], about 16 percent of the world’s population, yet its continental share in global trade remains below 3 percent[2], according to the World Trade Organization (WTO). This suboptimal proportion of world trade is compounded by Africa's limited intra-continental trade. During the 26th Africa Business Conference (ABC) held at Harvard Business School (HBS) on the 17^th of February 20, 2024, industry experts, policymakers, students, faculty members, and entrepreneurs converged to interrogate these concerns and explore opportunities for improving intra-African trade. 

Like the Joni Mitchell song puts it, “You don’t know what you’ve got ’til it’s gone.” For example, classroom education was often deemed boring by students and obsolete by tech visionaries. Then, Covid-19 made it difficult or impossible to meet in person. Now we yearn for in-class experiences.

Perhaps the same is true of international economic cooperation. Multilateral institutions such as the World Trade Organization, the International Monetary Fund, and the UN agencies have long been unpopular among much of the public for supposedly encroaching on national sovereignty. But then Donald Trump came along and made international cooperation well-nigh impossible. While other G20 leaders discussed pandemic preparedness at their recently concluded summit, for example, Trump evidently tweeted more false accusations of electoral fraud and then played golf.

President-elect Joe Biden’s decision to create a new cabinet-level position for climate-related issues — and to choose so prominent a figure as former Secretary of State John Kerry to fill it — demonstrates Biden’s sincerity over putting climate at the very center of U.S. foreign policy. It is easy to understate the importance of this appointment, given the flurry of czars created by most new administrations.

The geopolitical and geo-economic forces wrought by the coronavirus pandemic, as examined previously in this series, are likely to slow the transition to a more sustainable global energy mix. Fortunately, the pandemic has also resulted in governments gaining vastly greater influence over whether this shift stalls or accelerates.

For most people, there was nothing to celebrate when the International Monetary Fund downgraded its outlook for global economic growth in June, anticipating a contraction of 4.9% for 2020. Yet for others, such as the small but persistent group of economists and others known as the “degrowth movement,” the Covid-induced economic slowdown has a silver lining.

The search for silver linings to the coronavirus pandemic has come up woefully short. But one hopeful — and much talked of — prospect is that the disruption will accelerate the global shift to a more sustainable energy future.

For months, the coronavirus has crawled across the globe. One person at a time, it has passed through millions, reaching every corner of the earth. And it has not only infected people, but every aspect of our human cultures. Policymakers and the public sector face their biggest test in generations—some say ever—as lives and livelihoods hang in a terrible, delicate balance. Facing health crises, economic collapse, social and political disruption, we try to take stock of what the pandemic has done and will do. We asked Harvard Kennedy School faculty, in fields ranging from climate change to international development, from democracy to big power relations, to tell us how this epochal event has changed the world.

Juergen Braunstein and Sachin Silva argue that sovereign wealth funds may be central to governments' efforts to balance public responsibility with private interests in post-pandemic economies.

As the divergent experiences of the US and South Korea show, testing can be the difference between disease containment and catastrophe. Rather than relying on national governments to ensure the rapid development, production, and deployment of diagnostics during outbreaks, the world needs a global coordinating platform.