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Comments on ‘Africa and the Global Economy’ by Zhen Kun Wang and L. Alan Winters

Comments on ‘Africa and the Global Economy’ by Zhen Kun Wang and L. Alan Winters JOURNAL OF AFRICAN ECONOMIES, VOLUME 7, SUPPLEMENT 1: 1998 (AERC SUPPLEMENT MAY 1997), PP. 162-165 Comments on 'Africa and the Global Economy' by Zhen Kun Wang and L. Alan Winters Jan Willem Gunning CSAE, Oxford and Free University, Amsterdam 1. Introduction Wang and Winters have written an excellent paper which addresses an extremely important issue. Without doing justice to the richness of the paper, I think its message can be summarised in three points. First, openness is beneficial, or, more bluntly: 'African economies need to open up to world trade in order to stimulate their economic growth'. Secondly, African countries got less out of the Uruguay Round than other less-developed countries (LDC)s. However, their starting position was better: prior to the round they already faced fewer restrictions in the markets of developed countries than did other developing countries. Thirdly, in trade negotiations African countries should stop aiming for preferential access. Rather, they should aim for most favoured nation (MFN) tariff reductions, recognising that for a large part of their exports they have negotiating rights, enabling them to take the initiative as principal suppliers. I fully agree on the second point. My comments apply to the first and the third http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of African Economies Oxford University Press

Comments on ‘Africa and the Global Economy’ by Zhen Kun Wang and L. Alan Winters

Gunning, Jan Willem
Journal of African Economies , Volume 7 (suppl_1) – Jun 1, 1998
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Publisher
Oxford University Press
Copyright
© Published by Oxford University Press.
Subject
Articles
ISSN
0963-8024
eISSN
1464-3723
DOI
10.1093/jafeco/7.suppl_1.162
Publisher site
See Article on Publisher Site

Abstract

JOURNAL OF AFRICAN ECONOMIES, VOLUME 7, SUPPLEMENT 1: 1998 (AERC SUPPLEMENT MAY 1997), PP. 162-165 Comments on 'Africa and the Global Economy' by Zhen Kun Wang and L. Alan Winters Jan Willem Gunning CSAE, Oxford and Free University, Amsterdam 1. Introduction Wang and Winters have written an excellent paper which addresses an extremely important issue. Without doing justice to the richness of the paper, I think its message can be summarised in three points. First, openness is beneficial, or, more bluntly: 'African economies need to open up to world trade in order to stimulate their economic growth'. Secondly, African countries got less out of the Uruguay Round than other less-developed countries (LDC)s. However, their starting position was better: prior to the round they already faced fewer restrictions in the markets of developed countries than did other developing countries. Thirdly, in trade negotiations African countries should stop aiming for preferential access. Rather, they should aim for most favoured nation (MFN) tariff reductions, recognising that for a large part of their exports they have negotiating rights, enabling them to take the initiative as principal suppliers. I fully agree on the second point. My comments apply to the first and the third

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Journal of African Economies – Oxford University Press

Published: Jun 1, 1998

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