China and the Terms of Trade: The Challenge to Development Strategy in Sub-Saharan Africa

Raphael Kaplinsky

Chapter Chapter 6 in Global Giant, 2009, pp 115-134 from Palgrave Macmillan

Abstract: Abstract Beyond the minutiae of everyday, annual, and five-year cycles of policy lies the choice of development strategy. This shapes the trajectory of the economy over long periods, affecting not only the rate of economic growth but also its welfare and environmental impacts. It is customary (at least for economists) for this strategic choice to be located as a technical issue. “Which sectors should be privileged?” “what should be the balance between public and private actors in resource allocation?” and “what price signals will lead to the optimal outcome” are seen as decisions of economic rationality.

Keywords: Foreign Direct Investment; Gross Domestic Product; Global Governance; High Income Economy; Commodity Sector (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-62268-5_6

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DOI: 10.1057/9780230622685_6

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