South Africa’s economy has performed dismally since its miracle transition to democracy. From 1994 to 2022, GDP per capita, an imperfect measure of average living standards, increased by 22%. By comparison, over the same period, GDP per capita growth in local currencies was 783% in China, 337% in Vietnam, 315% in Ethiopia, 285% in India and 216% in Poland, according to the World Bank. In South Africa GDP per capita in 2022 was lower than it was in 2007.
South Africa is the most unequal country in the world. The top 10% earned 67% of incomes and owned 86% of […]
Full Post at headtopics.com