Economic Development in South Africa
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This paper considers the best economic strategy for poor countries to develop and applies this to South Africa. The paper notes the need for an infrastructure and for foreign investment from multinational enterprises in particular, with South Africa having to overcome the economic damage done by the long-term and now abandoned policy of apartheid, which contributed to the high unemployment and poverty facing the country.
From the Paper:"Economic development is a subject of study in the West and a vital necessity for the poor countries of the world. Technology is identified as one of the four key elements for a country to generate a higher standard of living, along with natural resources, capital, and a skilled workforce. Emerging nations today can take full advantage of the technological developments that have been made by developed nations (Mobius 37). A country like South Africa has particular difficulty today because of the long neglect of proper development during the decades of apartheid, when racial divisions created a lopsided economic system where whites benefited and blacks did not."
Cite this Essay:
Economic Development in South Africa (2005, December 01) Retrieved January 19, 2021, from https://www.academon.com/essay/economic-development-in-south-africa-87061/
"Economic Development in South Africa" 01 December 2005. Web. 19 January. 2021. <https://www.academon.com/essay/economic-development-in-south-africa-87061/>