If a central bank is reluctant ever to use monetary policy in pursuit of financial stability goals at the expense of more immediate employment and price stability goals, the burden on time invariant measures would be large indeed.
Africa is endowed with considerable human capital, millions of acres of arable land and a myriad of natural resources. Therefore, ladies and gentlemen, the combination of China’s capital, technology, market, enterprises, talents and experiences and Africa’s abundant resources, huge demographic dividend and great market potential should create economic wonders.