Justina CrabtreeSource: China-style state-led growth won’t work in Africa, former Nigeria finance minister warnsAs ties between China and African countries continue to strengthen, former Nigerian Finance Minister Ngozi Okonjo-Iweala has warned that Beijing-style economic governance will not work for Africa. But as ties continue to strengthen, a former Nigerian finance minister has warned that Beijing-style economic governance will not work for Africa. “China has been very helpful,” particularly with building much-needed infrastructure in Africa, Ngozi Okonjo-Iweala, a two-time former finance minister in Nigeria, told CNBC on Wednesday. Corruption could result from increased government intervention in business, Okonjo-Iweala said. While Cold War allegiances to the Soviet Union may be present in some African countries, Nigeria, by contrast, is a former British colony and therefore more espoused to a free market system.

Source: The North Africa Journal May 21, 2018 15:11 UTC