Category Archives: Economics

West’s bias not reflected in reality of African ties: China Daily editorial

Despite Western criticism of China’s presence in Africa, there is no denying the fact that the continent has maintained its growth momentum every year since China started to invest there. The Beijing summit shows that both sides want to maintain that momentum in pursuit of common prosperity.

Source: West’s bias not reflected in reality of African ties: China Daily editorial

A Brief Response: Marshall Plan for Africa or “Debt Trap?”

Image result for A Brief Response: Marshall Plan for Africa or “Debt Trap?”

The enormous investments China is pursuing in Addis Ababa have totally transformed the face of Ethiopia, a country once ranked among the poorest in the world. Today, Ethiopia is the only country in Africa that can manufacture its own leather shoes, thanks to support from China. This is the kind of friendship Africa has been yearning for.

Africa’s development can only be shaped by Africans. Europe and the US can therefore involve African leaders in designing the kind of investments and relations that fit them. If they continue condemning China on its relations with Africa, the continent’s ties with Beijing will only get stronger and thrive all the more.

Source: Marshall Plan for Africa or “Debt Trap?”

China Offers $60 Billion to Africa With ‘No Strings Attached’

Chinese President Xi Jinping has offered a $60 billion aid package to African countries over the next three years, in response to the continent’s increasing debt distress — with no strings attached.

China’s investment plans include $5 billion in African exports, $10 billion for development, and $15 billion grants and interest-free loans. A $20 billion credit line will also be included, as well as emergency food aid, scholarships and vocational training, and increased agricultural development.

Source: China Offers $60 Billion to Africa With ‘No Strings Attached’

NJ Resources for Business Growth

WHEN:
September 12, 2018 @ 2:00 pm – 5:30 pm
WHERE:
Brower Student Center, Event Room 100 East/West at The College of New Jersey
2000 Pennington Rd
Ewing Township, NJ 08628
USA
COST:
Free to attend

If you are a business owner and/or aspiring entrepreneur, the New Jersey Business Action Center (BAC) wants you to know about the many programs and incentives available to help your business grow and thrive.

You are invited to join BAC Executive Director Melanie Willoughby for an event Wednesday, September 12th to discuss how these incentives and programs can help you, and how you can take advantage of them.

Joining Willoughby will be representatives of the state agencies involved, including the Economic Development Authority, Department of Labor and Workforce Development, Department of the Treasury, the State Library, Board of Public Utilities, Small Business Development Center and others. These representatives will be available for one-on-one discussions at the meeting.

This program is organized by the New Jersey Business Action Center, the New Jersey Chamber of Commerce, and our MIDJersey Chamber. Hosted by The College of New Jersey.

Registration begins at 2:00 pm

Programs runs from 2:30 pm until 5:30 pm

Did you know …

  •  The State will pay you to become green?
  •  You can access powerful online databases with your library card at no charge?
  •  Micro-loans up to $50,000 are available for small business?
  •  Business advocates can help you develop an export marketing plan?
  •  You can purchase a building for your enterprise with as little as 10% down?

 

BAR Book Forum: Mehrsa Baradaran’s “The Color of Money” | Black Agenda Report

“And while racism has often been popularly considered as physical power and violence, the history of racial slavery in the United States demonstrates that violence and economic exploitation are often one and the same thing.”

 Banking Against (Black) Capitalism: On “The Color of Money” By Armond Towns, Carolyn Hardin

“When the Emancipation Proclamation was signed, the black community controlled about 1% of the nation’s wealth. Over 150 years later, that number hasn’t budged. The reason for this lack of economic progress despite the fact that racial progress has been made is the story I tell in my book.”

Source: BAR Book Forum: Mehrsa Baradaran’s “The Color of Money” | Black Agenda Report

Black-White Wage Gap Grows as Americans Remain in Denial

The wage gap between blacks and whites is the worst it’s been in nearly four decades, according to a new report from the Economic Policy Institute.

Last year, the hourly pay gap between blacks and whites widened to 26.7%, with whites making an average of $25.22 an hour compared to $18.49 for blacks, the EPI found. Almost 40 years ago, in 1979, the wage gap between blacks and whites was 18.1%, with whites earning an inflation-adjusted average of $19.62 an hour and blacks earning $16.07 an hour.

 What’s driving the wage gap has little to do with access to education, disparities in work experience or where someone lives, EPI found. Rather, the researchers found “discrimination…and growing earnings inequality in general,” to be the primary factors at play.

“Race is not a skill or characteristic that should have any market value as it relates to your wages, but it does,” said Valerie Wilson, the director of the program on Race, Ethnicity and the Economy at the EPI and a co-author of the report. (CNN)

Source: Black-White Wage Gap Grows as Americans Remain in Denial – Pacific Standard

Black women must work 7 months to get paid on the same level as white men

Ramaphosa wants single currency for Africa | The Citizen

President Cyril Ramaphosa did not appear a stranger to the African Union as he strolled into the closing session of the African Continental Free Trade Area Business Forum in Kigali on Tuesday afternoon. In fact, there was a mild case of continental Ramaphoria in the audience of African businesspeople, politicians, officials and hangers-on as Ramaphosa declared:

“The issue of visas for Rwandese to South Africa, consider it as a matter that is solved.”

There were whoops and gasps from the room, then applause.

Just last month, former president Jacob Zuma wanted to hang on to the presidency a few months longer so he could introduce Ramaphosa to the AU and the Southern African Development Community.

Former Nigerian president Olusegun Obasanjo welcomed Ramaphosa warmly, and congratulated him, and also “all of the people in South Africa for their transition”.

A high-ranking member of the Nigerian delegation, when asked about his country’s views, said the rest of the continent shared in the South Africans’ relief at the transition.

At the close of the session with Ramaphosa, the announcer enthusiastically declared:

“Can you feel the change? Change is in the air!”

Source: Ramaphosa wants single currency for Africa | The Citizen

Also See This article about Ramaphosa

Winning battle against poverty by 2020

China has a plan to lift everyone out of poverty by 2020! 2020! What plan does the so-called richest country (USA) in the world have for eliminating poverty? None that I know of.

Decoding Xi’s report – Poverty relief

Source: Winning battle against poverty by 2020

More: http://english.gov.cn/news/video/2016/10/16/content_281475467649421.htm

 

AACCNJ Small Business Showcase


Small Business Showcase
Sharing information on technical support for small businesses and highlighting local restaurants in Trenton.
Who: African American Chamber of Commerce of New Jersey (AACCNJ)
What: Businesses presenting information about what they offer
Where: Lighthouse Outreach Ministry, 715 Bellevue Ave., Trenton
When: Wednesday, November 8, 5:30 PM – 8:30 PM
Why: To inform, increase awareness, share information, link resources and provide opportunities for small business owners and public to connect.
Additional event details:
FREE and Open to the Public
Participating Businesses:
S.C.O.R.E.
IFEL – Institute for Entrepreneurial Leadership
UCEDC – Resources and Solutions for Small Business
TD Bank
Jersey Flight Football
Event Sponsors:
Verizon
Wells Fargo
AACCNJ’s Mission:
The African American Chamber of Commerce of New Jersey, Inc., (AACCNJ) is dedicated to economically empowering and sustaining African American communities through entrepreneurship and capitalistic activities within the State of New Jersey and via interaction with the National Black Chamber of Commerce, Inc. (NBCC). The AACCNJ has been incorporated as a 501(c)(3) in accordance with the Internal Revenue Code and provides advocacy and support for businesses throughout the State of New Jersey.

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New African literature is disrupting what Western presses prize

There is a thriving counter-current of transnational African literary life that confounds rather than caters to an international taste for “digestible” fiction.

African literature is the object of immense international interest across both academic and popular registers. Far from the field’s earlier, post-colonial association with marginality, a handful of star “Afropolitan” names are at the forefront of global trade publishing.

Books like Chimamanda Adichie’s “Americanah” and “Half of a Yellow Sun”, Teju Cole’s “Open City”, Taiye Selasi’s “Ghana Must Go” and Yaa Gyasi’s “Homegoing” have confounded neat divisions between Western and African literary traditions. The Cameroonian novelist Imbolo Mbue captured a million-dollar contract for her first book, “Behold the Dreamers”. That’s even before it joined the Oprah’s Book Club pantheon this year.

Source: New African literature is disrupting what Western presses prize