Skip to comments.South Africa sliding downhill while rest of continent clawing its way up
Posted on 10/24/2012 11:26:49 PM PDT by JerseyanExile
NOT so long ago, South Africa was by far the most serious and economically successful country in Africa. At the turn of the millennium it accounted for 40% of the total GDP of the 48 countries south of the Sahara, whereas Nigeria, three times more populous, lurched along in second place with around 14%. The remainder, in raw economic terms, barely seemed to count. Despite South Africas loathsome apartheid heritage, solid institutions underpinned its transition to democracy in 1994: a proper Parliament and electoral system, a good new constitution, independent courts, a vibrant press and a first-world stockmarket. Nelson Mandela, whose extraordinary magnanimity helped avert a racial bloodbath, heralded a rainbow nation that would be a beacon for the rest of Africa.
Since then, Africa, once harshly labelled by this newspaper as the hopeless continent, has begun to make bold strides (see article). Meanwhile South Africa, though still a treasure trove of minerals with the most sophisticated economy on the continent, is on the slide both economically and politically (see article). By some calculations Nigerias economy, messy as it is, will overtake it within a few years. What went wrong with South Africa, and how can it be fixed?
(Excerpt) Read more at economist.com ...
Well, the world’s socialists fixed it.
What’s the problem?
It should be perfect now. They did everything they wanted.
Africa economy ping
” and how can it be fixed?”
Another Live Aid’ show?
When kill Whitey with the government’s approval became a national past-time, then this was inevitable.
Racism in all its forms equals ruin and misery.
When kill Whitey with the governments approval became a national past-time, then this was inevitable.
Boy, (no pun intended) now there is an economic strategy for the twenty first century.
I doubt seriously the rest are going up
Gee.. who saw this coming?
I doubt seriously the rest are going up
I doubt it, too....Africa is a Fourth World Craphole that will never improve because of the racism, cronyism, and socialism of its black ruled lands
South Africa still has Apartheid....its just the Blacks are now putting it on the Whites
We can see it plainly from the White Hut.
It is perfect now by socialist standards.
It is “fair” when everyone lives equally in poverty (except for the socialist elite). This is better, in the socialist’s view, than raising the income of the poor by any means which could allow anyone outside of the socialist ruling class to become wealthy.
A cursory glance at the article's picture answers both that question, and why it cannot be fixed...
Agreed, but for the one benighted "colonial stooge" at the upper right hand corner brandishing his brolly in the best British tradition in the forest of knobkerries, staves, and what all. A cultural remnant of Cecil Rhodes Imperialism.
The old-money white South African kleptocracy have plenty stashed away overseas; Anglos usually have some family connection to get them to the UK or Australia; the biggest losers will be the Boers - after 300+ years in Africa they have nowhere else to go.
If all of the US became like Chicago - or Detroit - where would you and your family go? What country would let you in?
One problem with the trend, is that it is unsustainable. The global foreign-aid welfare state needs Western taxpayers to hold it all up, and there are too many parasites for their hosts to support. Western taxpayers are getting increasingly restless.
Robert Mugabe. Improbable as it seems, the Zimbabwean president, who is widely accused of ethnic cleansing, rigging elections, terrorising opposition, controlling media and presiding over a collapsed economy, has been endorsed as a champion of efforts to boost global holidaymaking.
Sadly, that’s true.
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