This archive report was first published on 8 October 2019.
As the People's Republic of China celebrates its 70th anniversary, it's a fitting moment to reflect on the country's remarkable transformation from a poverty-stricken nation to a global economic powerhouse. Published on October 8, 2019
China's journey serves as a stark contrast to Africa's own development trajectory, which has been largely dictated by Western ideals of economic efficiency. However, as the continent continues to grapple with poverty and inequality, it's time to reevaluate our approach and prioritize equity.
China's success story is built on a unique blend of capitalism and socialism, where the state plays a crucial role in regulating business activity and ensuring that the benefits of economic growth are shared by all. This approach has lifted hundreds of millions of people out of poverty and created a thriving middle class.
Meanwhile, in Africa, the emphasis on economic efficiency has led to a focus on privatization and deregulation, often at the expense of the most vulnerable members of society. The consequences are stark: poverty and inequality persist, and the continent's infrastructure remains underdeveloped.
It's time for Africa to forge its own path, one that prioritizes equity and social welfare over economic efficiency. By doing so, we can create a more just and prosperous society, where everyone has access to the resources and opportunities they need to thrive.
As President Uhuru Kenyatta's decision to cancel the dams in Elgeyo-Marakwet demonstrates, the choice between efficiency and equity is often a false one. In reality, the two are intertwined, and prioritizing one over the other can have serious long-term consequences for communities that are already marginalized and isolated.
By embracing a more equitable approach to development, Africa can create a brighter future for all its citizens, one that is built on the principles of justice, equality, and social welfare.
Mr Chesoli is a New York-based development economist and global policy expert.
