Aid Dependency and Africa’s Economic Development: Lessons from China and Southeast Asia’s Economic Growth, “Road Not Taken.”

Authors : Daniel Idibia Obida.

Volume/Issue : Volume 3 - 2018, Issue 2 - February

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The question of why some countries are poor and others are rich cannot be easily determined by anyone or legal research as the answer to such question depends on the angle from which such debate is earthed. At best the answer will depend on hypothesis. This study basically seeks to comprehend the role of Africa in development planning and strategy further investigates why Africa has not developed despite foreign aid intervention. It also questions why the Sub-Saharan Africa failed in economic development in the face of China and Southeast Asia which have become giants in economic growth. It seeks to investigate why Africa failed to learn any lesson from China and confront the prostrated economy by employing more effective approaches that can lead to diversion from the current approach to economic development which has failed the region. The study engaged aid dependence and looting of treasury in advancing the understanding on the subject matter and adduce reasons for failure of development in Sub-Saharan Africa. The study after analyzing aid dependence by Africa and the Chinese approaches to development, the study observes concludes that Africa has development deficit in terms of legal institutions, lack of belief in Africa’s economic future by her leaders, the compromising stand by the western media towards where Africa’s looted funds are hidden and concludes that Africa failed to takes the road of the Chinese and Southeast Asia’s pattern of development. It recommends that Africa go back to the basis and go back to the road not taken for her economic development.

Keywords : Foreign Aid Dependency, LCDs, Foreign Direct Investment, Overseas Development Assistance, Africa, China and Southeast Asia


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