Power Shift: North and South

The Caribbean shows that rapid industrial shifts into services can produce rapid economic growth. Africa and Latin America remain a perennial concern with respect to development. They also remain a very small and virtually unchanging proportion of the world economy. Brazil’s outstanding growth is the main exception to South American stagnation, even though its agricultural sector has surged in size and share. Pockets of growth are evident in Africa although new mining and oil industries bring little technological advancement. The majority of small, poor, stagnant economies still focus on agriculture, and they lie in Central Africa. Climate issues are largely ignored by economists, although they are demonstrably important.