Yes, if Africa can implement appropriate supportive policies to leverage its opportunities soon. This is the finding from a recent book by a team of World Bank economists. China dominates the global export market in light manufacturing, and its competitive edge far exceeds that of low income exporters that recently entered the global market.
But steeply rising costs of land, regulatory compliance, and especially labor in China’s coastal export manufacturing centers have begun to erode the latter’s cost advantage, a trend likely to accelerate in the coming years.
The ongoing redistribution of cost advantages in labor-intensive manufacturing presents an opportunity for Sub-Saharan Africa to start producing many light manufactures, enhance private investment and create millions of jobs.