WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2002-12-04 Posted By: Jan
From the News Archives of: WWW.AfricanCrisis.Org
Date & Time Posted: 12/4/2002 1:52:28 PM
South Africa"s Secret Economic Miracle
[Note: This article is interesting. Clearly, what is happening is not in any way attributable to the Government. This guy is talking about South African companies getting work from elsewhere, and costs falling. I suspect this is because whites are losing their jobs, business is slowing down, and now every is getting creative, trying to source work from outside the country and doing it for less than the rates we were used to. I speak from personal experiences in this regard – and this is probably driven by the socialism and the affirmative action kicking in. It would seem that lots of South African Businesses are still able to survive in spite of the rug being pulled from under their feet. Jan]
SA’s secret miracle
South Africa was experiencing an economic miracle without being aware of it, the Swiss-South African Chamber of Commerce heard on Tuesday evening.
Economist Mike Schussler told a meeting of the chamber that using publicly available figures from reputable sources such as the International Monetary Fund, the International Labour Organisation and Statistics South Africa he had gleaned that the country had more productive and cheaper labour than was generally known.
Gross domestic product (GDP) per person employed put the country next to the successful Taiwanese economy in the international league table.
South African labour costs had fallen in real terms by six percent in the last 10 years — something it had taken the flexible Dutch labour market 35 years to achieve. Wages and salaries had not risen to compensate for the fall in the rand, which accounted for this improvement in labour costs.
Schussler said if one analysed GDP, the share that went to labour had fallen below the share that went to profits for the first time in 21 years.
“I’m not sure how politically sustainable that is,” Schussler said, to general laughter.
Exports were also growing, and these were not just the traditional commodity exports, but items such as cars, furniture, paints, and chemicals. Non-traditional agricultural exports were also growing such as olive oil and dried fruits.
South Africans were also exporting services. He gave the example of American architects subcontracting their work via the Internet to local architects, and South African banks doing “back office work” for London banks the same way.
All this had been achieved without subsidy — unlike the much vaunted “tiger economies” of South East Asia. Asked why the rand had fallen so drastically last year, and then bounced back in recent weeks, Schussler said his explanation was that emerging market currencies generally had been under pressure.
The rand was a highly traded currency — the 13th most traded in the world — which also contributed to the volatility. – Sapa
From: Daily Mail & Guadian, Johannesburg
Dated: 04 December 2002 10:31
URL: http://www.mg.co.za/Content/l3.jsp?o=13019br>