The UK has a responsibility towards its former African colonies and needs to ensure that they find avenues to help and develop its economy. Countries that ere under the colonial rule of the UK have struggled economically for decades as they lack the financial resources and have not received support from the British government. Several countries in Africa that were under the colonial rule of other European powers such as France have received financial support that has helped them to develop their economy. Similar interest has been lacking from the end of the British government and they have avoided the needs of their former subjects. An efficient use of abundant resources is needed that would ensure that Africa is able to rise in terms of export numbers and incoming foreign investment. Modern economic theories and current examples of success reveal that the UK can implement several models to boost the African economy and perform their obligation.
The UK needs to find ways to economically strengthen their former colonies in Africa and one of the most suitable ways can be by implementing the China Model. Since 1976, China has been successful in growing their economy multiple times and the FDI from Chinese diaspora has been a major contributing factor. Chinese population all over the world invested in the Chinese Mainland after government control was reduced and the private ownership was encouraged (Etienne, 2011). Similar to China, Africa also has a significant diaspora populace spread all over the world, especially in Europe and North America. These second generation and third generation Africans can become the lifeline to build the African economy as they have the finances and the financial pull to attract investors from all over the world.
Reference List
Etienne., G. (20 March 2011). Gilbert Etienne: Exploding the myth of the ?Beijing Consensus'. Available: http://www.business-standard.com/article/opinion/gilbert-etienne-exploding-the-myth-of-the-beijing-consensus-39-111032000003_1.html. Last accessed 20 May 2016.
