Ethiopia: From Lion of Judah to economic lion

[Sir X]

Ethiopia: From Lion of Judah to economic lion
By Eliza Anyangwe, for CNN
Updated 7:29 AM ET, Tue October 20, 2015
Ethiopian priests and monks walk during the annual festival of Timkat in Lalibela, which celebrates the Baptism of Jesus in the Jordan River.
Ethiopian priests and monks walk during the annual festival of Timkat in Lalibela, which celebrates the Baptism of Jesus in the Jordan River.
(CNN)If there was ever a country that embodied the optimism of the "Africa rising" narrative, it would be Ethiopia. The economy of Africa's second-most populated country has for the past decade grown at an average of 10.8% every year.

http://www.cnn.com/2015/10/20/africa...lture-economy/

[Islandman]

Thanks. I noticed that the next Anthony Bourdain episode on CNN this Sunday is going to be in Ethiopia.

http://www.cnn.com/videos/tv/2015/10...ists/bourdain/

I enjoy his program, he shows you the unvarnished side of the countries he visits, the way the locals live there and in a manner that isn't condescending nor from an ignorant Westerners viewpoint.

[Mosiah]

He has the best job in the world!

[Sir X]

Agreed Mo ,gonna watch that one Island.

[Don1]

Ethiopia: From Lion of Judah to economic lion
By Eliza Anyangwe, for CNN
Updated 7:29 AM ET, Tue October 20, 2015
Ethiopian priests and monks walk during the annual festival of Timkat in Lalibela, which celebrates the Baptism of Jesus in the Jordan River.
Ethiopian priests and monks walk during the annual festival of Timkat in Lalibela, which celebrates the Baptism of Jesus in the Jordan River.
(CNN)If there was ever a country that embodied the optimism of the "Africa rising" narrative, it would be Ethiopia. The economy of Africa's second-most populated country has for the past decade grown at an average of 10.8% every year.

http://www.cnn.com/2015/10/20/africa...lture-economy/

This growth is very commendable...It's much better than Jamaica's 1% for example

But growing per capita GDP from an abysmal ~US$200 to somewhat less abysmal US$500 in a decade is merely scratching the surface. Since the GDP was so low...it meant that ANY significant production boost would have an outsized effect on the growth number. That really low number of 10 years ago was due to political instability, wars, droughts & mass famine. Now that phase has passed thankfully.

Jamaica's per capita GDP is a pathetic ~U$5.5K. At current trajectory Ethiopia will reach our pathetic number around 2050. However it's very doubtful Ethiopia can maintain 10% growth over the next 30+ years...

But we wish them well same way

[Reggaedoc]

This growth is very commendable...It's much better than Jamaica's 1% for example

But growing per capita GDP from an abysmal ~US$200 to somewhat less abysmal US$500 in a decade is merely scratching the surface. Since the GDP was so low...it meant that ANY significant production boost would have an outsized effect on the growth number. That really low number of 10 years ago was due to political instability, wars, droughts & mass famine. Now that phase has passed thankfully.

Jamaica's per capita GDP is a pathetic ~U$5.5K. At current trajectory Ethiopia will reach our pathetic number around 2050. However it's very doubtful Ethiopia can maintain 10% growth over the next 30+ years...

But we wish them well same way

GDP or per capita income?

[Don1]

GDP or per capita income?

The article indicated that Ethiopia raised its per capita GDP from ~US$200 to ~US$500 in a decade

US$200 was probably the lowest number in the world (or close to). US$500 is still among the lowest... For perspective Haiti's ~US$800 per capita GDP makes it the poorest in this hemisphere

Using the Rule of 72...at a 10% growth rate the GDP doubles every 7 years... so in ~26 years Ethiopia would be around Jamaica's current pathetic ~US$5500 per capita number. But that would mean Ethiopia maintaining 10%+ growth over close to 40 years (10 past + 26 future years).

So Ethiopia is still in VERY bad shape...but has a platform for more progress

[Islandman]

That is true and in fact approximately true for many of the African nations that have experienced high single/low double digit growth for the past 10-15 years.

However there is a lot to be said for direction and momemtum, particularly in the case of Africa where a lot of very good things can happen if collectively they continue to experience growth, and perhaps more importantly, strenghten their still extremely fragile institutions.

Ethiopia has 80 million people, Nigeria 100 million. The implications for Africa of improving the lives of the majority of people in these countries from extreme misery to mild poverty would be immense.

I came across this TED talk recently on the topic, worth a watch.

http://www.ted.com/talks/fred_swanik...who_can_fix_it

[Assasin]

Not too different from China in the last 3 decade, where they moved from extreme poverty over time?? Let us chair them on, who would think China would have 3 decade of growth between 7-10 percent every year?

[Islandman]

Similar in many ways although China were never quite as poor as the poorer African nations. I would probably say more like India than China.

With a population of +1 billion their economic growth has had an impact on not just China and Asia but the whole world economy. When you move that many people from per capita income of $2000 to $8000 in 20 years the impact is major.


There are still approximately a billion people worldwide living in extreme poverty. Almost a third of them are in sub-Saharan African nations, much more in percentage terms than it used to be because so many people in Asia are no longer in that category.

[Don1]

That is true and in fact approximately true for many of the African nations that have experienced high single/low double digit growth for the past 10-15 years.

However there is a lot to be said for direction and momemtum, particularly in the case of Africa where a lot of very good things can happen if collectively they continue to experience growth, and perhaps more importantly, strenghten their still extremely fragile institutions.

Ethiopia has 80 million people, Nigeria 100 million. The implications for Africa of improving the lives of the majority of people in these countries from extreme misery to mild poverty would be immense.

I came across this TED talk recently on the topic, worth a watch.

http://www.ted.com/talks/fred_swanik...who_can_fix_it

agreed

will review that TED piece ltr ..

[Muadib]

What is the per capita GDP of the great China ?

[Don1]

What is the per capita GDP of the great China ?

Ahhhh Grasshopper....This reveals the really interesting angles on global financial politricks

China's per capita GDP on a purchasing power basis (the basis that matters in the real world) is ~US13K ...making the Chinese economy approximately equal to the USA in actual output...TODAY
That's interesting in itself...But the real problem arises when one considers trajectory...AKA...GROWTH

China's growth rate is slowing as it re-balances from an export-led model to emphasize more sustainable domestic consumer spending. So from say 8-10% over the past 30 years...let's be realistic and assume 6% growth for the next 12 years

That results in DOUBLING of GDP...and an economy significantly larger than any other...by far. US growth is projected at 2-3% in contrast

So by ~2030 China's per capita GDP could be "ONLY" ~US$25K in today's dollar equivalent but still MUCH larger than the USA :Head_in_hand.

Since "rich" countries are at say ~US$40K++... China would still have a lot of space to move that GDP number...and potentially put everyone else in a dark corner. This assumes political stability, no destructive wars etc

Not to mention other countries that are increasing their power relative to Babylon West

Be very afraid yuteman...the world is being turned upside down unda unnu nose as Babylon East moves lika nuclear and Babylon West treads wata just to stay afloat.

Unnu dummies in JA ave basement???

[Muadib]

lol ! woiee !!

Mi statisTRICKS...