| Abstract: | Africa has been vulnerable because of both a poor agricultural performance and a weak industrial base. The sine qua non of its development is transformation in the trend of food production. A high degree of economic integration must be seen as a necessary condition for more successful industrialization. The immediate stumbling block is the payments problem, given foreign exchange scarcity at the national level. But the balance of paymants dilemma will remain, which means that aid will continue to be important. Here, a long-term commitment is needed, combined with short-term flexibility in adjusting to crisis conditions. - Notes. |
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