In a CFR meeting this week, Helen Clark, administrator of the United Nations Development Program, discussed the newly released 2013 Human Development Report and trends in global development. Among the topics was Africa’s economic growth. As Clark argued:
Africa, for that growth, is not getting the poverty reduction which Asia got at similar levels of its development because the growth has been coming off, essentially, extractive industries, for the most part. And to get poverty down, you have to find ways of getting domestic revenue of those industries and investing back into the virtuous cycle of development–the infrastructure, the education, the health systems, the social protection and so on.