The above article is the younger Mbeki giving his thoughts as to where the economy is heading. However as I read it, I notice that maybe we South Africans are maybe just a bit unreasonable in our expectations. Before you all jump on me, hear me out.
Globally the trend seems to be that the sectors that are experiancing rapid growth are service related industries that require skilled labour, something we have in short supply here. And the only thing that can really create jobs and stuff are industries that in SA are really slowing down.
Unfortunatly we are not isolated in this respect as becuase of dirt cheap labour in Asia, the major manufacturing opprtunities end up there. And though we have relatively cheap labour, we have a very regulated labour market. Now IMO this stems from when workers had no rights back in the day, and in our efforts to redress the situation, we now have a very labour friendly enviroment.
Now don't get me wrong, I don't want us to have a situation like in China where workers are treated like crap, however if we are really serious about job creation in this global economy, we need to "loosen up" our labour regulations for major corporations to want to invest in plants here. The unions would not be happy obviously, but in the long term it would be to the advantage of their members.