Canada needs to stop wasting the talent of skilled immigrants
Neoliberal democracies across the world have looked up to Canada as a leader in economically driven immigration. The merit-based immigration system was used to fill labour market shortages and has been a go-to solution to the country’s aging population and recently, the post-pandemic economic recovery. We recently undertook a Photovoice project, Take a Walk in […]
dividing and excluding people keeps them poor
Sub-Saharan African countries are the most ethnically diverse in the world. Within each African country there are more ethnic groups than there are in most of the world’s countries. In fact, the world’s 20 most ethnically diverse countries are all African. An ethnic group is a social group that shares a common and distinctive history, […]
South Africa’s economy has taken some heavy body blows: can it recover?
Economists are growing increasingly concerned about South Africa’s economy. This is because the country’s three major macroeconomic problems – lacklustre economic growth, growing inflation and very high unemployment – have been exacerbated by a series of major disruptions. These include the COVID pandemic that started as a health crisis but escalated quickly to an economic […]
remanufacturing could be the solution
Nigeria has pumped more than US$8 billion into Ajaokuta Steel Company, a project which began more than 40 years ago but has yet to produce one tonne of steel. Several attempts have been made to bring the plant into production, but without success. It was built to 98% capacity by the Soviet Union’s Tyazpromoexport. But […]
Can the South Asian economy break from the past and find a route to stability?
Sri Lanka has a new president and prime minister – but a change in who leads the crisis-hit South Asian nation alone will not solve the country’s severe economic problems. Ranil Wickremesinghe – who on July 20, 2022, was voted in by lawmakers to replace fleeing former president Gotabaya Rajapaksa – and his appointed premier […]
Why China’s real estate crisis should make the global travel industry nervous
Once upon a time – in 2019 – tourists from China were among the best-traveled in the world. They collectively spent more than US$250 billion abroad – nearly twice as much as their nearest competitors, the Americans – and logged more than 150 million departures on international flights that year. The COVID-19 pandemic shook the […]
Foreign banks are absent in Nigeria. We tracked down why
Privately owned Nigerian banks hold 94% of Nigerian banking assets. Only one other country in the world – Israel – has a higher share of ownership by local banks. The share of banking assets is the most reliable way to measure market power and competitive position. Some of the world’s largest banks are active in […]
Owning your own business can make it harder to get hired later
If you’ve been thinking about starting your own business lately, you’re not alone. Americans began launching ventures in record numbers during the pandemic, with an above-trend pace continuing through 2023. Unfortunately, many of of these enterprises won’t last long: 30% of new businesses fail within two years, and half don’t last past five, according to […]
Africa’s ports race is hyped as ‘development’ but also creates pathways for plunder
Ports have long been integral to Africa’s connectivity with the rest of the world. Yet over the last 15 years, a new stage in maritime infrastructure planning and development has begun. Between 2004 and 2019, over US$50 billion was spent on this infrastructure – roughly 13 times more than was spent between 1990 and 2004. […]
Ghana’s return to the IMF within three years underscores its deeper economic problems
Ghana is again seeking assistance from the International Monetary Fund (IMF) to enable the country to meet its payments to the rest of the world and restore the health of government finances. It is the second time in the past three years and 17th since independence in 1957 that Ghana has turned to the IMF […]