Committee: Executive Council
Topic: Improving Africa‘s Manufacturing Capacity to improve its Manufacturing Potential
In the study guide, Aziz the committee chair for the committee aforementioned above writes about the dissonance between the abundance of raw materials and resources found on the continent and the manufacturing capacity /output of the continent. He cites Sudan as an example, stating how the country is rich in petroleum and gold but ends up selling these resources and buying them back from other countries that have stronger industrial structures and thus, manufacturing capacity.
As I read it, I began thinking about what is commonly coined the resource curse or the paradox of plenty. They both describe the inability of resource – rich countries to effectively manage their resources in order to secure economic growth and development. As a concept, it further examines the repercussions of this mismanagement of resources on the affected country. Thus, the concept then extends from the capacity of a country to the effects of the mismanagement on the citizens, the environment and the general functionality of the country.
As you can see, it is very interesting.
So, go read it! (It meaning the study guide and perhaps, possibly, a little bit about the paradox of plenty)
See you tomorrow.