XINHUA/AFP

Emerging economies key

Yet, these measures may not be sufficient. Given the economic and financial challenges facing NATO governments, it is not clear how much and how fast Western governments can contribute to Africa's economic recovery in real time. Clearly, China and other emerging economies - Brazil, India, Malaysia, Turkey, etc must step in and provide bridge and investment financing to stabilize affected economies. This would have the added advantage of providing a window of opportunity for countries not directly supporting the rebels to participate in the reconstruction efforts. It would also free the new regimes from NATO domination, and diversify the terms and conditions for alternative sources of finance and investments.

Foreign investors are likely to respond according to the motive and type of investments. Resource seeking investors (e.g. oil, minerals) and those from China and other emerging economies tend to be hardy, accepting of higher risks, and are likely to stay and grow in the medium and long term. On the other hand, market and strategic assets seeking investors (e.g. manufacturing, tourism, and business services) tend to be footloose, more responsive to political risk, and here investment projects are likely to be cancelled or postponed. Heavily invested in resources, Chinese investments clearly fall under the former.

Yet, in all this, Africa does not exist in a vacuum. Forces of globalization are very much at play with Africa as the late and marginal player. Witness the partitioning of the Sudan and NATO in Libya. The road to democracy and prosperity is variegated. African countries need the freedom to develop indigenous but meaningful reforms for stability, democracy and prosperity for all. Outside intervention such as Kofi Anan in Kenya, Southern African Development Community in Zimbabwe, ECOWAS in Guinea Bissau detract from the hard work needed to find homegrown compromises and solutions to complex socio-political problems.

In the end, the African peoples will prevail. The road from dictatorship to democracy, justice and stability for all is bumpy, protracted and costly. History is on the side of freedom and prosperity. Neither Egypt's pyramids nor the ruins of Zimbabwe were built in one day.

The author is a professor at the School of Business, Carleton University, Canada