‘African countries should adopt own growth indices’

He said Africa and Nigeria in particular should find solutions to their challenges internally.Hongwu, who made several studies on Africa situations, spoke on Saturday in Abuja at a seminar titled “China’s political progress and homegrown democracy.” The academic noted that in future many African countries can perform like China but should formulate their own policies […]

He said Africa and Nigeria in particular should find solutions to their challenges internally.
Hongwu, who made several studies on Africa situations, spoke on Saturday in Abuja at a seminar titled “China’s political progress and homegrown democracy.”
The academic noted that in future many African countries can perform like China but should formulate their own policies rather than copy others that might not work for them.
He gave the example of China that tried to learn from the west in the 1910s and the Soviet Union in the 1960s but failed saying African countries should find what he described as a “homegrown solution” to their problems.
Hongwu also advised African nations to judge their officials by economic performance rather than political indices just as China is doing.
He said countries that seek development must be “feasible, practical, efficient and stable” pointing out that “democracy aims to solve specific issues of social development and realize the interests of the most people.”
The director added that China’s foreign exchange reserve improved progressively citing that in 1978 it was $0.2 trillion and $3.3116 trillion in 2012 with $2,800 per capita income.
Hongwu said his country is in another phase of growth targeting 2025 saying that its trade maybe greater than that of the US economy.