In a perfect world, where access to technology and the wealth are equally distributed, the GDP of each country would be proportional to its population. In the real world that relationship exists on average (see the dot charts below) but with significant deviations from the trend. Many developed countries, being relatively less populous than their developing counterparts, have high levels of GDP, while the GDPs of less-developed countries, especially in Africa, are disproportionally low.
Will the enormous population growth in African countries strengthen their economies and the wealth of their citizens, or will this growth only give rise to even greater poverty? "The answer depends on how each country responds today with policies" - the World Bank, October 2015.
Source: IMF World Economic Outlook, September 2011
Zambia is a copper-rich African country that just three years ago was the darling of international investors seeking to expand their mineral portfolios. Mining investment - encouraged by privatization of the copper mines in the late 1990s - and the copper price boom that started in late 2008 served to support the sustained economic growth the country had achieved since implementing measures in 2004 to support greater fiscal discipline. Leading multinational mining companies, including Barrick Gold Corp., First Quantum Minerals Ltd. and Glencore PLC, have become major investors in Zambia's mining industry. Zambia's fortunes have turned,...
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