South Africa is a country with a huge income disparity. The income disparity is greatest between Black and Whites. On average the average white household earns six times more than the average black household. Income inequality among South Africans ranks in the top 10 in the world. Although South Africa has taken measures to promote employment among Blacks, little has changed in the overall status of these people. There are several restrictive government laws that impede progress and entrepreneurial advancement. During the past few years South Africa has seen economic gains, inflation has lowered, the country has stabilized, and employment has increased. However, there is still a lot of room for improvement. South Africa has incredible wildlife, beautiful scenery, and magnificent beaches; therefore, tourism is one of the top industries. Unfortunately, many South Africans are not yet able to enjoy the prosperity that others enjoy and in fact about one half of South Africans are living in poverty. Much of this poverty and income inequality can be attributed to the apartheid past that still haunts South Africa. Economic growth, poverty reduction, and job creation remain key economic goals of South Africa. The GDP of South Africa in 2010 was 364 billion. This ranks 28th in the world and is only growing at 1.4 percent. South Africa hopes that this rate improves and would hopefully grow at 4 percent. South Africa also relies much on their exports. Gold is still a huge export for South Africa. They are also the leading producers of platinum, chrome, manganese, and vanadium.
http://focusgold.com/
"Background Note: South Africa." U.S. Department of State. U.S. Department of State. Web. 26 Feb. 2012. <http://www.state.gov/r/pa/ei/bgn/2898.htm>.
"South Africa: Economy Overview." - SouthAfrica.info. Web. 26 Feb. 2012. <http://www.southafrica.info/business/economy/econoverview.htm>.
It is always sad to see inequality and income disparity between whites and blacks is just outrageous. I know that the apartheid happen here but it is so long ago and it is just sadden to see this. I thought South Africa stopped the inequality but I guess they have not. I wonder how are the women effect? Are the women treated unequal as well? I know it wasn't part of Economy but just a mere thought I had since based on America; women are not fairly treated and I was wondering if it was the same over there. Another thing to point is if race causes inequality, gender I would think has inequality but if they were both black and a woman does that mean they get even less? Sorry if it seems like I’m venting, just down right unjust!
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