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Joe Studwell

👤 Speaker
240 total appearances

Appearances Over Time

Podcast Appearances

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

one always discussed demographics in Asia because it was always relevant, but you didn't discuss it that much because it was never a problem.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

Asia in 1960 always had a sufficient demographic density to be able to pay for its infrastructure, to have deep concentrated urban markets, to raise taxes.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

I mean, all of the stuff that you need to do developmentally.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

So

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

I had never thought in two, three decades working in Asia of demographics as something that could fundamentally constrain economic development.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

It was just a sort of marginal variable.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

Well, when you have super low population density, as you did in Africa, if you go back to the end of the Second World War, Africa is this vast landmass into which you can fit China, India, Europe, and the US.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

I mean, it's hard to believe, but if you cut the countries out of an atlas and try, you'll find that that's correct.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

That's how vast Africa is, and yet it had only 220 million people at the end of the Second World War.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

The constraint that that produces is that you get population density averaged over Africa of less than 10 people per square kilometre.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

You think of the size of a square kilometre and only 10 people in it, it's very few.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

And the impact that this has economically is, well, you don't have markets, you don't have meaningful concentrated markets.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

So if you think 1900, for Africa, the two biggest cities were Lagos and Dar es Salaam, and they had populations of 20,000 people.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

And this is a time when cities like Singapore or Shanghai in East Asia had a quarter of a million or half a million in the case of Africa.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

of Singapore.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

So it's just a different order of magnitude.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

So you haven't got concentrated centres of population that demand goods and will reliably pay for goods and services.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

And also cities have always been very, very important historically as places to raise tax.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

It's always been much easier to get tax off urbanites than it is off people living in a dispersed condition in the countryside.

Merryn Talks Money
Why Africa’s Population Boom Could Power Its Next Growth Era

So you have that problem.