There is more turbulence on Wall Street. As the week began, credit loosened up and stock markets slowly regained lost ground, but just as there was a sigh of relief, Wednesday brought another sharp drop in the Dow Jones Index and investor worries grew that economies around the world are weakening rapidly.
Consider this: some of the billion poorest people in the world, 70 per cent of whom live in Africa, have been recipients of foreign aid from Western nations.
Yet despite this aid, during times of immense global success there have been tremendous development failures. On this show Riz asks how the developing nations will be affected in the face of a potential global economic crisis.
On Thursday's Riz Khan we speak to Yash Tandon, the executive director of the South Centre, an intergovernmental organisation of developing countries. The South Centre examines development problems and provides intellectual and policy support to these countries. Professor Tandon does not believe that the African continent is likely to be affected by the global credit crunch.
Also joining the program is Razia Khan, she is head of research for Africa at Standard Chartered bank. And Todd Moss, a senior fellow and the director of The Emerging Africa Project at the Center for Global Development. Most recently he served as the deputy assistant secretary in the Bureau of African Affairs at the US Department of State from May 2007 to October 2008.
