The dynamics of the global economy are changing rapidly, and Africa may become the most productive continent one day, said Jacob Frenkel, chairman of JPMorgan Chase International and former governor of the Israel's central bank.
In an interview Monday on CNBC's "Squawk on the Street," Frenkel also warned that central banks cannot sustain monetary easing policies in the long term.
"The center of gravity of the world is changing very rapidly," Frenkel told CNBC. "It is related to those countries that are growing and getting younger. They will be the destination for the future."
"Africa, for example, if they get their act together, they may become the most productive future continent. In terms of size, their population is very young and growing," he said.