South Africa’s economic & social decline the worst of nations not at war

RT – April 17, 2019

New research from think tank Eunomix Business & Economics found that South Africa endured one of the worst declines over the past 12 years for a country not at war.

The country’s performance on a range of social, economic, and governance measures deteriorated more than any other nation not involved in an international or civil conflict, it said.

An index of security, governance, prosperity, and welfare indicators showed South Africa slumped to 88th out of 178 nations last year from 31st in 2006.

The Johannesburg-based advisory company said the decline is likely to continue as South Africa is grappling with the consequences of nine years of worsening corruption and policy paralysis under former President Jacob Zuma.

The fragility of the economy may also limit the tenure of his successor, Cyril Ramaphosa, who faces his first national election May 8, Eunomix said.

“There is the strongest likelihood of him being a one-term president,” the head of Eunomix, Claude Baissac, was quoted as saying by Bloomberg. “He is starting with a very weak economy, the weakest of any president since Mandela. He is also starting with a fairly weak hand from a political standpoint.”

Only conflict-torn countries such as Mali, Ukraine, and Venezuela have had a worse time in the past decade than South Africa, said Eunomix.

According to the think tank, the major reason of the nation’s massive decline is the unsustainable structure of South Africa’s economy where economic power is largely held by an elite that wields little political influence.

“Economic policy serves narrow interests, thus generating insufficient and unfairly allocated growth. Populism, rather than developmentalism, is an easy temptation, with the economy a tug-of-war between mutually distrustful groups.”

Eunomix also said that while Ramaphosa spent his first 14 months in power pledging a crackdown on corruption, an end to policy uncertainty and a drive to reform loss-making state-owned companies, his political weakness will hinder progress.

“South Africa’s state performance peaked in 2007, that year its economy and governance were at their best. Since then the state has experienced continuous decline in all core indicators of performance.”

“The developmental state project has failed. South Africa is now a fragile state, expected to continue to weaken,” Eunomix said.

Source

3 responses to “South Africa’s economic & social decline the worst of nations not at war”

  1. The real reason SA Can’t succeed:
    “Of interest is the massive number of Black South Africans with IQ scores below 80 (over 33 million or 75% of that population). These people are regarded as unemployable, for all but the most menial tasks. The development of robotics will greatly compromise their economic viability in a technological society. Likewise of great concern is the significant absence of Black South Africans with IQ above 130 (less than 1,500 compared to over 100,000 White South Africans). This group are the leaders of commerce and the sciences. Black South Africans’ performance in commerce, government, commercial farming and academia reflects this severe deficit.”

  2. That’s what happens when you get a bunch of nigger savages taking over. Name me one, just ONE, country on earth in which blacks are in charge that has it’s shit together by any reasonable metric.

  3. I think this would be a wonderful opportunity to pause for a moment and give thanks for the great contributions of the Black community to our society. Their peaceful and generous nature make them ideal neighbors, lending testimony to their exceptional family values and parenting skills unrivaled by any other culture. Their commitment to academic excellence enriches our schools and serves as an example to all who hope to achieve prominence as a people. Real estate values are fueled by the mix of African Americans into an area due to their caring and respectful nature of these communities, an example of all they have achieved through their enthusiasm for self improvement by hard work and a self-reliant can-do nature. Without their industrious and creative drive, we would be poorer as a nation. Since the dawn of history the negro has owned the continent of Africa–rich beyond the dream of poet’s fancy, crunching acres of diamonds beneath his bare black feet. Yet he never picked one up from the dust until a white man showed to him its glittering light. His land swarmed with powerful and docile animals, yet he never dreamed a harness, cart, or sled. A hunter by necessity, he never made an ax, spear, or arrowhead worth preserving beyond the moment of its use. He lived as an ox, content to graze for an hour. In a land of stone and timber he never sawed a foot of lumber, carved a block, or built a house save of broken sticks and mud. With league on league of ocean strand and miles of inland seas, for four thousand years he watched their surface ripple under the wind, heard the thunder of the surf on his beach, the howl of the storm over his head, gazed on the dim blue horizon calling him to worlds that lie beyond, and yet he never dreamed a sail! He lived as his fathers lived–stole his food, worked his wife, sold his children, ate his brother, content to drink, sing, dance, and sport as the ape!