08/08/2014 08:12 am ET Updated Aug 08, 2014

Amb. Andrew Young On First Africa Summit: 'Africa Is The Market Of The Future'

U.S. President Barack Obama gathered African political leaders and American business executives in Washington this week for a summit to explore business opportunities in Africa. During the meeting, Obama promised billions of dollars in investments on African soil. "I want Africans buying more American products and I want Americans buying more African products," the president said.

Former Atlanta mayor and U.S. Ambassador to the United Nations Andrew Young stopped by HuffPost Live on Thursday to chat about the summit and its effects.

"The largest middle class on the planet is going to be on the African continent. They say 2040, I think it'll be closer to 2025 or 2030," Young told host Marc Lamont Hill. "You have somewhere between $20 and $40 trillion...that is sitting idle while you have near recessions in Europe and America. Africa is the only answer."

Young was part of a roundtable discussion on the future for Africa and the possible effects of new business strategies.

Catch the rest of the clip above, and watch the entire HuffPost Live conversation here.

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Summer in Africa | 2014