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In essence, these flows have helped create a highly competitive and sophisticated financial and services sector to the detriment of manufacturing and low skilled employment. The main cause of this inequality can be direclty analyzed when comparing the wealth of black South Africans relative to the rest of the population.
To this extent, the government enacted domestic policy of affirmative action and Broad Based Black Economic Empowerment BBBEE in order to directly increase the number of black owners of capital and land in line with the expectations of the labour unions and a rising black working class. Although this may have been prudent domestic policy, international investors from Luxembourg and Italy duly brought a claim against South Africa under the ICSID facility rules.
This was due to the percentage of local ownership that is required when conducting business within the country. This was done to strengthen investor protection but within a domestic context. It is clear to see here that domestic politics lead to a change in policy from South Africa. This was evident when the country was able to terminate some of its BITs with European countries and yet still remain a viable destination for international investors. This allows the government to continue to focus on redressing the structural issues inherrited by the abhorrent Apartheid regime through FDI investment.
That said, it is not the panacea to all of the current issues the country faces in the long run. The countries attractiveness to investors largely depends on its ability to provide returns and a stable domestic political environment. My concern regarding the countries ability to remain an attractive environment revolves largely around its ability to eradicate the high levels of inefficiencies currently endemic to the public sector. Facebook Twitter. Proudly South African. Masters student at Fordham University in New York.
(DOC) FDI & ECONOMIC GROWTH IN SOUTH AFRICA | Olebogeng Uys - abymedoxuhav.tk
Entrepreneur, young leader, coffee addict and an avid Liverpool fan. Zhan says there are still many uncertainties facing the global economy. But the outlook for the global economy is darkening, underpinned by structural factors in the economy. In addition, the strengthening of the digital economy and thus a shift toward intangibles in international production will play a role, alongside significant declines in FDI returns, already evident over the past five years. Toggle navigation.
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