Skip to main content

Home/ Jacob Solomon's group - M2015(B)/ Group items tagged south

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
Haydn W

South Africa at 20: Storms behind the rainbow - Opinion - Al Jazeera English - 1 views

www.aljazeera.com/...-behi-2014320155339545752.html

Aggregate Supply South Africa GDP Mandela

shared by Haydn W on 30 Mar 14 - No Cached
  • April 27 marks the 20th anniversary of South Africa's first democratic elections.
  • Many things have improved in South Africa since 1994, to be sure. State racism has ended, and the country now boasts what some have described as the most progressive constitution in the world. People have rights, and they know that there are institutions designed to protect and uphold those rights. Still, everyday life for most South Africans remains a struggle - a struggle that is infinitely compounded by the sense of disappointment that accompanies it, given the gap between the expectations of liberation and the state of abjection that the majority continues to inhabit.
  • South Africa's unemployment rate in 1994 was 13 percent - so bad that most were convinced it could only get better. Yet today it is double that, at about 25 percent.
  • ...15 more annotations...
  • And that's according to official statistics; a more reasonable figure, according to most analysts, is probably closer to 37 percent. The situation is particularly bad for young people. The Economist recently reported that "half of South Africans under 24 looking for work have none. Of those who have jobs, a third earn less than $2 a day."
  • South Africa also boasts a reputation for being one of the most unequal countries in the world. Not only has aggregate income inequality worsened since the end of apartheid, income inequality between racial groups has worsened as well.
  • According to the 2011 census, black households earn only 16 percent of that which white households earn. About 62 percent of all black people live below the poverty line, while in the rural areas of the former homelands this figure rises to a shocking 79 percent.
  • The ANC's Black Economic Empowerment programme has succeeded in minting new black millionaires (South Africa has 7,800 of them now), but can't seem to manage the much more basic goal of eliminating poverty.
  • during the negotiated transition of the 1980s and early 1990s. The apartheid National Party was determined that the transition would not undermine key corporate interests in South Africa, specifically finance and mining. They were willing to bargain away political power so long as they could retain control over the economy. And so they did.
  • The ANC was forced to retreat from its position on nationalisation and an IMF deal signed just before the transition deregulated the financial sector and clamped down on wage increases.
  • Still, when the ANC assumed power in 1994 it implemented a progressive policy initiative known as the Reconstruction and Development Programme (RDP). The RDP was designed to promote equitable development and poverty reduction
  • Despite its successes, this policy framework was abandoned a mere two years later. Mbeki and then Finance Minister Trevor Manuel held clandestine discussions with World Bank advisors toward drafting a new economic policy known as GEAR (Growth, Employment, and Redistribution, even though it accomplished precious little of the latter).
  • Given these contradictions, it's no wonder that South Africa is ablaze with discontent, earning it the title of "protest capital of the world".
  • Early this year some 3,000 protests occurred over a 90-day period, involving more than a million people. South Africans are taking to the streets, as they give up on electoral politics. This is particularly true for the young: Nearly 75 percent of voters aged 20-29 did not participate in the 2011 local elections.
  • The government's response has been a mix of police repression - including the recent massacre of 44 striking miners at Marikana - and the continued rollout of welfare grants, which now provide a vital lifeline to some 15 million people.
  • So far the protests have been focused on issues like access to housing, water, electricity, and other basic services, but it won't be long before they coalesce into something much more powerful
  • as they did during the last decade of apartheid. There are already signs that this is beginning to happen. The Economic Freedom Fighters, recently founded by Julius Malema, the unsavory former leader of the ANC Youth League, is successfully mobilising discontented youth and making a strong push to nationalise the mines and the banks.
  • It seems that the ANC's legitimacy is beginning to unravel and consent among the governed has begun to thin. It is still too early to tell, but the death of Mandela may further widen this crack in the edifice of the ruling regime, as the ANC scrambles to shore up its symbolic connection to the liberation struggle.
  • In short, the situation in South Africa over the past 20 years opens up interesting questions about the meaning of democracy. What is democracy if it doesn't allow people to determine their own economic destiny or benefit from the vast wealth of the commons? What is freedom if it serves only the capital interests of the country's elite? The revolution that brought us the end of apartheid has accomplished a great deal, to be sure, but it has not yet reached its goal. Liberation is not yet at hand.
  • Haydn W on 30 Mar 14
     
    From Al Jazeera I chose this article about the poor state of the economy in South Africa, 20 years after Nelson Mandela and the ANC came to power, ending the system of political, social and economic segregation, Apartheid. Despite reforms in the 90's the majority of wealth and power is still held by rich whites. With around 30% unemployment rate and young people struggling to find work many feel only anger and resentment to the current ANC government led by Jacob Zuma. Economically speaking South Africa's imports are up and exports down, reducing GDP as AS is shifted left. This is especially evident in industries like mining and banking which many are now calling for to be nationalised. 20 years on from Nelson Mandela's historic victory in the 1994 general election, South Africa, despite being free of the shackles of segregation is not in the boom many predict. The ANC must be careful in there actions, should they, following the death of Madiba lose contact with his legacy and what he stood for.
Clemence Lafeuille

South Korea proposes 513% tariff on foreign rice after import caps scrapped - 4 views

www.chinapost.com.tw/...South-Korea.htm

tariff South Korean China quotas imports

shared by Clemence Lafeuille on 24 Oct 14 - No Cached
  • Clemence Lafeuille on 24 Oct 14
     
    This article explains how South Korea is now imposing an extremely high tariff of 513% on foreign rice (mainly from China) on top of the already existing quotas to try to protect the domestic market even more
Zuzanna G

U3O8: Low Capital Costs, Short Term Uranium Production in South America - 0 views

uraniuminvestingnews.com/...oduction-in-south-america.html

production cost

shared by Zuzanna G on 21 Jan 14 - No Cached
  • Zuzanna G on 21 Jan 14
     
    This article discusses the opportunities for uranium production in South America.
Daniel Soto Aggard

South Korea Increases its Terms of Trade - 1 views

www.globalpost.com/...terms-trade-rise-3rd-month-nov

terms of trade south korea

shared by Daniel Soto Aggard on 18 Jan 15 - No Cached
  • Daniel Soto Aggard on 18 Jan 15
     
    This article concerns South Korea and its increase in the terms of trade due to the cheaper oil prices. Its import price have fallen steeply compared to its export. Affecting the county's GDP and economic growth.
Zube Iheobi

South African Poultry Tariffs Yet to Produce Local Benefits - The Poultry Site - 1 views

www.thepoultrysite.com/...-yet-to-produce-local-benefits

tarriff

shared by Zube Iheobi on 24 Oct 14 - No Cached
  • Zube Iheobi on 24 Oct 14
     
    example of possibe effects of a tarrif
Pietro AA

S. Korea's Economy Grows More Than Forecast as Exports Climb - Bloomberg - 0 views

www.bloomberg.com/...forecast-as-exports-climb.html

aggregate demand inflation s.korea forecast exports climb economy

shared by Pietro AA on 24 Apr 14 - No Cached
  • South Korea’s economy expanded at a faster pace than forecast, showing momentum that could boost inflation pressures and build a case for a rate increase.
  • Gross domestic product grew 0.9
  • rivate consumption increased,
  • ...5 more annotations...
  • Exports weathered the won’s 8 percent climb against the dollar
  • rowth will accelerate to the quickest pace this year since 2010, helping push inflation up to its target band.
  • he economy is doing well broadly, across exports, consumption and jobs
  • ncrease in the nation’s exports f
  • Growth was constrained by weakness in business investment,
  • Pietro AA on 24 Apr 14
     
    great article about the macroeconomy of S.Korea. Maybe it gives too much info so it leaves less space for analysis.
Hyobin Lim

S.Korea's inflation falls to 7-month low on easing supply-side pressure - 2 views

http://news.xinhuanet.com/english/business/2014-10/01/c_133686923.htm

supply side

started by Hyobin Lim on 06 Oct 14 1 follow-up, last by Hyobin Lim on 06 Oct 14
John B

William Easterly: Singing About Fighting Poverty, Slightly Off-Key - WSJ - WSJ - 1 views

online.wsj.com/...ty-slightly-off-key-1412292935

Supply-side

shared by John B on 03 Oct 14 - No Cached
  • The progress against poverty in China is obvious, but whether China's government deserves to be held up as a development model is not so clear. For instance, who gets to decide whether mainland Chinese citizens should be content with improved standards of living and so few protections against the frequent violations of their rights by their own government?
  • Extreme poverty in China has been reduced over the past few decades precisely because Beijing permitted the freedoms of a market economy to infiltrate a communism-blighted society. If the regime's repression now worsens, count on the end of the country's high growth rates.
  • Yet freedom is arguably central: first, as an end that people want for themselves, and, second, as the most well-proven path to escaping poverty. Consider among others North America, most of Europe, Australia, New Zealand, Japan, South Korea, Taiwan and Chile, where the answer to poverty was economic and political freedom.
  • John B on 03 Oct 14
     
    In this article, the author discuss the affects of the actions of the government in China. It is a modern topic today due to the demonstrations being held in Hong Kong. The authors mentions that the statement about entering a democracy, and then pulling back on the decision means that they were on the right track to get the market more free from the government, hence less poverty, but now he thinks it is gonna worsen the economical conditions. A free market has saved many economies, why should China still not give in for the human rights and improve their economy?
Haydn W

Will ′Modinomics′ help boost India′s development? | Asia | DW.DE | 12.01.2015 - 1 views

www.dw.de/...a-18185326

Economic Development India DW

shared by Haydn W on 10 Feb 15 - No Cached
  • Will 'Modinomics' help boost India's development?
  • In a bid to transform India's economy, PM Narendra Modi has pledged unlimited reforms at a summit in Gujarat.
  • Indian PM Narendra Modi pledged to slash red tape and banish India's reputation as a hard place to do business. Modi spoke of his plans to lift hundreds of millions of Indians out of poverty, including the opening of more than 100 million bank accounts
  • ...3 more annotations...
  • More than six months into Modi's rule, India's economic growth remains sluggish, with GDP expanding at an average of 5.2 percent in the first three quarters of 2014.
  • Kerry told the summit the United States looks forward to stronger trade and diplomatic ties with India. Kerry's visit to the South Asian nation, his second in six months, comes just a few weeks before US President Barack Obama is due in New Delhi for talks.
  • Rajiv Biswas, Asia-Pacific Chief Economist at the analytics firm IHS, says that while replicating the Gujarat model across a large and politically disparate country such as India will be difficult, PM Modi's management style is likely to accelerate economic development in significant parts of India, particularly in states where his Bharatiya Janata Party (BJP) holds state government.
  • Haydn W on 10 Feb 15
     
    This interview details the style of policy making to promote growth initated by Narendra Modi, the Indian Prime Minister. Economic growth and development is arguably the most important area of policy in India and will be a huge focal point of any international discussions centered around the region.
John B

Large fishing nations fail to agree to deep cuts in Pacific tuna quotas | Environment |... - 2 views

www.theguardian.com/...g-nations-fail-cut-tuna-quotas

quota

shared by John B on 24 Oct 14 - No Cached
  • The 33 member states of the commission, which is tasked with ensuring sustainable fishing, negotiated a proposal to reduce the amount of yellowfin and bigeye tuna, which is regularly used in sashimi and sushi, by 2018.
  • The US, China, South Korea, Japan, Indonesia and Taiwan are responsible for 80% of bigeye tuna caught each year. In 2012, a record 2.6m tonnes of tuna was hauled from the Pacific – 60% of the global total.
  • “The big nations are the disappointing ones, given that they’ve refused to take cuts in their quota,” said Amanda Nickson
  • ...2 more annotations...
  • Large fishing vessels will also now have to carry unique identification numbers, similar to passenger and cargo ships. The move is aimed at reducing illegal and unreported fishing.
  • Although there has been progress on some measures, it’s disappointing to see the commission fail on its core objective, which is to ensure sustainable fishing.
  • John B on 24 Oct 14
     
    This article deals with the quota put on the big nation's extreme fishing. The problem is that the nations ignore the quota and therefore there are species that are on their way to becoming extinct.
1 - 10 of 10
Showing 20▼ items per page