Question

African economies are diverse. Each country has a different mix of economic resources. A few have rich farmland. Others have cash crops that the world wants, such as cotton, cocoa, tea and coffee. Some countries have a great mineral resources, such as diamonds or oil. After achieving independence, each African nation had to make choices as to how to best develop their resources.

After independence, many Africans nations were attracted to socialism, an economic system in which major economic decisions are made by the government rather than by individuals, companies, and the market. They hoped to industrialize rapidly and looked to the models of the Soviet Union and China, which had made rapid gains in a short period. Some developed their own form of “African socialism,” based on traditions of consensus and shared responsibility.
These early models of development did not succeed. By 1980s, most African nations moved toward market reforms, which international lenders required before making badly needed loans.

For decades, African governments and multinational corporations worked to boost production of cash crops for export, such as coffee, cocoa, rubber, and cotton. However, the drive to develop cash crops for badly needed income hurt many countries. Land used to grow cash crops could not be used to produce food. Faced with growing populations, some countries had to buy costly imported food. To prevent unrest among the urban poor, many governments then kept food prices artificially low, which was costly.
Today, the demand for both cash crops and food crops remains high. Government want to produce enough food for their people, and have encouraged smalls farmers to adopt new practices to increase food output. At same time, they focus on competing in global markets for cash crops.

in the past ten years, economic activity across Africa has increased with some nations experiencing strong economic gains. In fact, parts of continent have posted growth rates equal to, or greater than, parts of Asia.
Progress is due to many causes. Some countries once torn by conflict have resorted political stability and made progress, including Rwanda, Ethiopia, Angola, and Mozambique, such as greater political stability and an end some conflicts.
Trade has driven much economic growth. African nations have increased trade and other economic ties with industrial giants such as China and India. Some nations have benefited from rising prices for oil, minerals, and other commodities. Many have also reduced foreign debt and brought down high rates of inflation.
As African economies expand, more people prosper, producing a growing middle class. These consumers, in turn, help to drive still greater economic growth. South Africa, Botswana, Namibia, and all of North Africa are classified as “middle income countries”
Despite improvements, African growth could face setbacks. Global prices for export crops and commodities are subject to swings that can affect growth. Wars, natural disasters, and misguided government policies can also hurt individual countries.
Still, the current growth in Africa has attracted outside investment capital needed to build a strong infrastructure, or underlying transportation and other systems.

African nations have benefited from regional and international cooperation. In 1963, African nations set up the Organization of African Unity, which later became the 54-nation African Union (AU). Among its chief goals are encouraging cooperation, promoting economic growth, and seeking peaceful settlements of disputes. Through the African Development Bank, it channels investment capital from foreign sources into development programs.
The UN has also promoted development. It has worked with individual countries and regional organizations like the AU to support democratic government, promote economic growth, and protect the environment. UN programs have introduced drought resistant farming methods to Ethiopia and other regions of limited rainfall. Elsewhere, they have helped poor women open small businesses, which helps families out of poverty.

Answer 1

Las economías africanas son diversas. Cada país tiene una combinación diferente de recursos económicos. Algunos tienen tierras de cultivo ricas. Otros tienen cultivos comerciales que el mundo quiere, como el algodón, el cacao, el té y el café. Algunos países tienen grandes recursos minerales, como diamantes o petróleo. Después de lograr la independencia, cada nación africana tuvo que tomar decisiones sobre cómo desarrollar mejor sus recursos.

Después de la independencia, muchas naciones africanas se sintieron atraídas por el socialismo, un sistema económico en el que las principales decisiones económicas las toma el gobierno y no las personas, las empresas y el mercado.