According to the African Development Bank (AfDB) president, Akinwumi Adesina, Africa is at the bottom of...

 

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According to the African Development Bank (AfDB) president, Akinwumi Adesina, Africa is at the bottom of the global value chain with its share of global manufacturing at around only 1.9 percent. Additionally, African economies still rely too heavily on raw commodities; between 2011-2013 manufactured goods made up only 18.5 percent of exports, while 62 percent of total imports were manufactured goods, a commercial imbalance that drains wealth away from the continent. Read the above extract before answering the following questions: 6.1 Given the many disadvantages to trade liberalisation when considered in a long-run development context, discuss the arguments for protection? (10 marks) 6.2 Given Africa's share of global manufacturing of about 1.9 percent, describe the best means of trade protection that would also support industrial development in the continent? (10 marks) According to the African Development Bank (AfDB) president, Akinwumi Adesina, Africa is at the bottom of the global value chain with its share of global manufacturing at around only 1.9 percent. Additionally, African economies still rely too heavily on raw commodities; between 2011-2013 manufactured goods made up only 18.5 percent of exports, while 62 percent of total imports were manufactured goods, a commercial imbalance that drains wealth away from the continent. Read the above extract before answering the following questions: 6.1 Given the many disadvantages to trade liberalisation when considered in a long-run development context, discuss the arguments for protection? (10 marks) 6.2 Given Africa's share of global manufacturing of about 1.9 percent, describe the best means of trade protection that would also support industrial development in the continent? (10 marks)

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61 Given the many disadvantages to trade liberalisation when considered in a longrun development context discuss the arguments for protection 10 marks 6 1 Arg uments for Protection Prot ection ism is ... View the full answer