Strenghts and Weaknesses of the South African Economy
The Strengths and Weaknesses of South African Economy
Introduction
In some ways South Africa is like all other countries, in other ways it is like some others, and in its own, unique way it is like no other country. It is subject to the same environmental and ecological threats as all other countries on this earth, it is caught up in the realities of a globalising economy and it is adapting to rapidly changing production, service and information technologies.
South Africa shares many features with more advanced economies in that it has a well-developed physical infrastructure, an advanced banking and financial sector and a manufacturing sector that can produce varied and sophisticated products. It also shares features with the poorest nations: an under-educated and under-skilled population relative to the requirements of an advanced economy, large-scale unemployment negatively affected by economic globalisation patterns, and local communities lacking modern economic, social and infrastructural facilities.
Yet in some ways South Africa is like no other nation. South Africa has a historical pattern which has determined a current reality which must be understood if we are to find effective solutions for its current malaise. It has a complex problem structure with a unique mix of human and physical resources which contribute to both its strengths and its weaknesses.
South Africa has some significant positive features such as its well developed and diversified economy and infra-structure, and the universal global goodwill towards the current government. The country has an attractive climate, great tourist potential and bountiful mineral resources. It has a heterogeneous population mix which has emerged peacefully from an apartheid regime to a fully democratic government. But there are also many serious negatives.
The country has a dual social and economic structure with a minority of the population living according to the pattern of a 'First World' economy and the
Introduction
In some ways South Africa is like all other countries, in other ways it is like some others, and in its own, unique way it is like no other country. It is subject to the same environmental and ecological threats as all other countries on this earth, it is caught up in the realities of a globalising economy and it is adapting to rapidly changing production, service and information technologies.
South Africa shares many features with more advanced economies in that it has a well-developed physical infrastructure, an advanced banking and financial sector and a manufacturing sector that can produce varied and sophisticated products. It also shares features with the poorest nations: an under-educated and under-skilled population relative to the requirements of an advanced economy, large-scale unemployment negatively affected by economic globalisation patterns, and local communities lacking modern economic, social and infrastructural facilities.
Yet in some ways South Africa is like no other nation. South Africa has a historical pattern which has determined a current reality which must be understood if we are to find effective solutions for its current malaise. It has a complex problem structure with a unique mix of human and physical resources which contribute to both its strengths and its weaknesses.
South Africa has some significant positive features such as its well developed and diversified economy and infra-structure, and the universal global goodwill towards the current government. The country has an attractive climate, great tourist potential and bountiful mineral resources. It has a heterogeneous population mix which has emerged peacefully from an apartheid regime to a fully democratic government. But there are also many serious negatives.
The country has a dual social and economic structure with a minority of the population living according to the pattern of a 'First World' economy and the
References: http://www.southafrica.info/doing_business/economy/fiscal_policies/compet2909.htm http://www_sagoodnews_co_za http://www.dpe.gov.za/home.asp http://www.sane.org.za/docs/tailoring.htm http://www.saiia.org.za/modules.php?op=modload&name=News&file=article&sid=862