Mantashe: National Party policy best option

[DigitalSoldier]

http://www.fin24.com/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-1786_2480202

Johannesburg - Import substitution, as implemented in the 1960s, the ruling party says, is the way to let local industries flourish.

This is according to ANC general secretary Gwede Mantashe, who attended a panel discussion on Wednesday.

Mantashe was in Sandton with other political leaders, including Cope leader Mosiuoa Lekota, and DA leader Helen Zille, to answer questions from the business community in the run-up to next month's general election.

"I spoke to Afrikaners the other day. In the 1960s the Nationalists made great strides and the country grew rapidly thanks to the industrial policy of the time."

Mantashe said the government, like the National Party of that time, was considering import substitution with a view to industrial development. "We can't just run to the World Trade Organisation every time. We must look after ourselves."

I can't believe she said that...must be incorrect reporting

 

[JungleBoy]

http://www.fin24.com/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-1786_2480202







I can't believe she said that...must be incorrect reporting

Gwede Mantashe is a man

 

[Slaine73]

My, my......

 

[DigitalSoldier]

Gwede Mantashe is a man

My bad.

Was thinking about Gwen Mahlangu when I was reading the article

 

[brixton tower]

Talk about back to the future. Seriously though, I think Gwede is just doing another bit of posturing...I'm not an economist but there's no way that import substitution could be introduced in this day and age...that's unless you have an economy that is totally isolated from the rest of the world.

In the Philippines, where I'm currently living the Marcos regime instituted an import substitution programme, instead of leading to industrial it had an effect of protecting the land barons who moved into industries knowing that they wouldn't have to compete against foreign company's. Years the effect has been that you'll find very few Filipino multinationals.

I don't know whether the Afrikaners that Mantashe spoke to gave him the whole picture of import substitution or whether they were reminiscing about the days of no competition.