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Recession in Africa and the Middle East
Transcript of Recession in Africa and the Middle East
a period of economic decline Area: 13,352,904 km2
Life Expectancy: 70. 5 GNI: $8,500
Infant Mortality rate: 27.39
(per 1,000 live births)
Average Literacy Rate: 5.9
years of schooling Development Level:
some developing Area: 30,220,000 km²
Life Expectancy: 49.41 Infant Mortality rate: 42.67 (per 1,000 live births)
Developed Status: Less developed
Average Literacy Rate: 86.4% Middle East Sub-Saharan Africa HOW HAS THE GLOBAL RECESSION
AFFECTED AFRICA? While Africa has
been affected by the
Global Recession of 2007,
the damage has not been as severe as you might expect. Some of the more
developed countries such as
South Africa have been hit harder due to
the fact that their economies are more
interconnected globally. The Global Recession (2007~) The current global recession started because banks in the U.S. partnered with the construction industry to sell houses through
long term loans. Globalization - extending out worldwide to form integration and development depend on international exports
* no oil no water currency is suffering,
reserves are diminishing 1. 2. EFFECT FROM 2007 RECESSION: Effects of the Global Recession Many people took advantage of these
loans and borrowed money they
couldn't pay back. Banks in Europe began to pull their
support and funding for American banks.
As a result, American banks became
unstable and many people withdrew their
money because they were afraid that they
would lose it. Ironically, the reason American banks collapsed was because everyone withdrew their savings, depriving the banks of money. Because banks and economies are all globally
connected, the recession in America
affected countries all over the world. But in general, Africa has been doing well. Sub-Saharan Africa GDP Growth Rate As you can see, Sub-Saharan Africa's
economy has not been hit as hard as that
of the United States. This is largely due to smart policy decisions toward stabilizing the economy and establishing free trade. Also, prices for Africa's natural resources have stayed high or increased, fueled by new growing markets,
especially those in China. Finally, African banks were not as affected by the global recession. This is mainly because they are not as dependent on foreign banks.
Because African banks were able to continue functioning, the economy was not damaged as much as some other countries. Although Africa is facing an obstacle in the form of a drop in demand for the mining and construction industry, it is likely that Africa will continue to grow in the long run. Sources "Population Density (people per Sq. Km) in Middle East and North Africa." Population Density (people per Sq. Km) in Middle East and North Africa. Trading Economics, n.d. Web. 11 Sept. 2012. <http://www.tradingeconomics.com/middle-east-and-north-africa/population-density-people-per-sq-km-wb-data.html>.
"Mortality Rate; Infant (per 1;000 Live Births) in Middle East and North Africa." Mortality Rate; Infant (per 1;000 Live Births) in Middle East and North Africa. Trading Economics, n.d. Web. 10 Sept. 2012. <http://www.tradingeconomics.com/middle-east-and-north-africa/mortality-rate-infant-per-1-000-live-births-wb-data.html>. "Adult Illiteracy Rates (15 Years & Over) in the Middle East." About.com Middle East Issues. N.p., n.d. Web. 10 Sept. 2012. <http://middleeast.about.com/od/middleeast101/a/me090425b.htm>.
"The World Factbook." CIA.gov. CIA, n.d. Web. 13 Sept. 2012. <https://www.cia.gov/library/publications/the-world-factbook/>.
"South Africa." Data.worldbank.org. World Bank, n.d. Web. 9 Sept. 2012. <http://data.worldbank.org/country/south-africa>.
Cline, Stephen. "Global Economic Crisis." Global Economic Crisis. Economic Crisis Blog, 31 May 2009. Web. 9 Sept. 2012. <http://www.economiccrisisblog.com/economy1/economic-globalization-definition>.
http://www.tradingeconomics.com/united-states/gdp-growth "South Africa Demographics Profile 2012." South Africa Demographics Profile 2012. Index Mundi, n.d. Web. 11 Sept. 2012. <http://www.indexmundi.com/south_africa/demographics_profile.html>.
"National Economic Accounts for Countries and Regions around the World." Gross National Income (GNI). Nations Online, n.d. Web. 10 Sept. 2012. <http://www.nationsonline.org/oneworld/GNI_PPP_of_countries.htm>.
Sayeh, Antoinette. "Africa and the Great Recession: Changing Times." Http://blog-imfdirect.imf.org/. IMF, 14 May 2012. Web. 9 Sept. 2012. <http://blog-imfdirect.imf.org/2012/05/14/africa-and-the-great-recession-changing-times/>.
http://blogs.ft.com/beyond-brics/2011/12/30/bb-2011-awards-em-winners-and-losers/#axzz26DcaADnK Thank You~ Economic Globalization - countries
or governments supporting and integrating with each other to form a
single world market Effects of the Global Recession on Africa and the Middle East
Daniel Chae & Emily Moimoi