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Old 10-06-2013, 07:58 AM
 
Location: Maryland
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Foreign investment is drying up in South Africa as leftist labor movements cause instability.

BMW to Halt South Africa Expansion Plans After Strikes - Bloomberg
Quote:
While BMW is maintaining its long-term plans for Africa’s largest economy, the Munich, Germany-based automaker’s internal perception of the country has changed following a wave of strikes this year from mining to aviation companies.
“From our perspective we think the country is at a fairly major socio-political crossroads,” Kilfoil said. “South Africa is becoming less globally competitive in terms of wages, energy cost, water cost. All of those things are making South Africa a less attractive destination for foreign investment.”
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Old 07-27-2014, 10:42 AM
 
Location: Kalamalka Lake, B.C.
3,044 posts, read 4,013,008 times
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As I have seen in Vancouver, BC starting in the mid-nineties there was a mass exodus of professional, white families out of S. Africa to "anywhere but there". If it's anything like Uganda these people keep their cash and credit rating in another country, and the job creation leaves when they leave. I wouldn't blame it on one issue.

I doubt the issue is the usual usagainstthem game of leftists, however you define that in a very different country, but any fundamental change in a system means you'll have instability until you find your way. Next to striking and violence, it looks like S.Africa is back to the choices in the fifties just before Mandela went to prison. I hope I'm wrong.

I did see one statistic that numbered the exodus in the MILLIONS, but it's not been front page news.
Speaking of leftists, those stats. probably don't identify them as white, but it's sort of a no brainer.
For all the love-in internationally that went S.Africa's way after Mandela's ascention I never saw any economic/job creation stories in the news, either.
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Old 07-27-2014, 11:44 AM
 
Location: Allendale MI
2,532 posts, read 1,893,255 times
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Quote:
Originally Posted by thedwightguy View Post
As I have seen in Vancouver, BC starting in the mid-nineties there was a mass exodus of professional, white families out of S. Africa to "anywhere but there". If it's anything like Uganda these people keep their cash and credit rating in another country, and the job creation leaves when they leave. I wouldn't blame it on one issue.

I doubt the issue is the usual usagainstthem game of leftists, however you define that in a very different country, but any fundamental change in a system means you'll have instability until you find your way. Next to striking and violence, it looks like S.Africa is back to the choices in the fifties just before Mandela went to prison. I hope I'm wrong.

I did see one statistic that numbered the exodus in the MILLIONS, but it's not been front page news.
Speaking of leftists, those stats. probably don't identify them as white, but it's sort of a no brainer.
For all the love-in internationally that went S.Africa's way after Mandela's ascention I never saw any economic/job creation stories in the news, either.
South Africa's GDP tripled after the early 90s It didn't stop growing intill the 2008 recession.
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Old 07-27-2014, 02:25 PM
 
274 posts, read 292,759 times
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Yup strikes are killing us at the moment >.< Was reading a few articles a while back saying how more and more investors were slowly and quietly moving out of SA.

It's getting to quite a ridiculous level as striking is becoming an annual thing for the unions regardless if they had an agreement that they weren't allowed to strike for x number of years.

The effects are already noticeable as our currency weakens, petrol price is still on the rise and we've had to raise the repo rate twice now to curb inflation.

So higher petrol price, which indirectly increases food price; weak Rand also means anything imported will go up (probably balanced by exports a lil') and my bond payments are up from prime being increased. I can't even imagine how difficult it's got to be for the lower class who might not have that extra leeway to give on top of things like eToll etc.
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