Economic Development of Sub-Saharan Africa-Toward a Close Cooperation with Korea

Abstract

Sub-Saharan Africa has been exploited by Western powers for a long time. Most regimes are struggling to eradicate such phenomena as poverty, poor shelter and sanitation conditions, and illiteracy. However, despite all this, Africa's growth rate record is still very fragile. The average per capita income today in many sub-Saharan countries is lower than at the end of the 1960s. The economic structure is characterized by weak linkages between the economic sector and the governments, and the economic growth is based on the enclave exploitation of natural resources. This paper aims to introduce the history, institutions, economies and developments of sub-Saharan Africa and explore a possibility of Korea cooperating more closely with Africa in the near future. Both sub-Saharan Africa and Korea can help each other through their relationship: Africa can establish more sustainable growth and Korea can enlarge its share of exports in the Global market.

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