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True or false: Africa still remains relatively poor, but has begun opening up to international trade (although it has a long way to go)?

User Noyo
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Final answer:

Africa is relatively poor and is progressively engaging in international trade, with signs of stable governance and economic potential emerging in certain regions, despite historical exploitation and challenges such as low foreign direct investment.

Step-by-step explanation:

It is true that Africa remains relatively poor and has a considerable journey ahead in terms of integrating fully into the international trade landscape. While there are examples of democratic and stable governments emerging, many African countries still grapple with challenges of unity and order. In the midst of these developments, the continent has begun to open up to international trade, albeit slowly.

Despite the historical exploitation and colonization by European powers that led to a depletion of resources and sustained poverty, Africa's economy is now showing signs of growth. For instance, the African Continental Free Trade Area is connecting 1.3 billion people across 55 countries with a combined GDP of $3.4 trillion, indicating potential for a future economic uplift.

However, the legacy of neocolonialism affects Africa's role in the global economy. As of 2022, Africa attracted only 3% of global foreign direct investment, while home to a significant portion of the world's population. This disparity highlights the long way to go in improving Africa's economic status and the need for more equitable participation in international trade.

Furthermore, initiatives in countries like Ghana and Botswana, as well as advancements in technology and infrastructure in other parts of Africa, exemplify the potential and progress being made. Examples such as Ghana's space program and Kenya's mobile phone usage showcase innovation and growth that may lead to an expanded role in global trade.

User Muhammad Nizami
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