South Africa
Capital:Pretoria
Population:48,782,756
GDP:$282.6 billion
GDP Growth Rate:5.1% (2008)
South Africa’s transition from Apartheid to a constitutional democracy in the 1990s ushered in an era of political, social, and economic reform. The new Republic of South Africa is a representative democracy with liberal economic policies, little to no external or domestic debt, and reduced tariffs. These policies have encouraged growth, investment, and integration with world markets. As you visit cities such as Johannesburg, Cape Town, and other South African economic centers, you will learn more about the effects of these policies including the Accelerated and Shared Growth Initiative for South Africa (ASGISA) program. The program, launched in 2006, has put South Africa on a course to reach a 6% GDP by 2010. It is also helping the economy expand from its traditional dependence on the mining of precious stones and metals. Today the nation’s list of exports has grown to include electronics and machinery. However, these advances have not eliminated South Africa’s numerous challenges such as a 25% unemployment rate and resource shortages that make South Africa an interesting and an engaging economic case study.
