Macro Analysis /
Global

Dawn of a second Cold War and the ‘scramble for Africa’

    Brookings
    13 May 2022
    Published by

    By Hippolyte Fofack

    Abstract

    Ample empirical evidence shows that the African Continental Free Trade Area (AfCFTA) will boost the competitiveness of African economies and accelerate the diversification of sources of growth and trade to deepen economic integration in Africa and enhance the region’s assimilation into the world economy. However, realizing these potentials hinges on reversing the current trend of rising insecurity heightened by proxy wars in the new age of great power rivalries. This paper outlines policy options that draw on the political and trade economies of scale to optimize the allocation of scarce resources and strengthen the security and development nexus to implement the AfCFTA successfully for lasting peace and prosperity in Africa.

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