Ethiopia: 10.5% projected 2015 GDP growth Qatar and Ethiopia couldnt be more different, high economic growth aside. Thirty years ago, Ethiopia weathered a biblical famine that cost the lives of more than 1 million people, and the countrys still transitioning into modernity today. Agriculture makes up nearly half of Ethiopias GDP, according to the CIA World Factbook, and foreign investment has only recently begun to take hold in the African nation. That investment, however, could be the start of something special. As traditional low-cost manufacturing hubs such as China have seen wages and standards of living rise, companies seeking cheaper labor have sought greener pastures. Ethiopia could be one of the biggest beneficiaries of this shift: China is estimated to lose up to 85 million manufacturing jobs in coming years, and Chinese apparel companies, among other firms, have begun to set up shop in Ethiopia to capitalize on the low wages.
Posted on: Fri, 28 Nov 2014 12:39:51 +0000
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