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Economy of South Africa : ウィキペディア英語版
Economy of South Africa

The economy of South Africa is the second-largest in Africa, behind Nigeria. South Africa accounts for 24 percent of Africa's gross domestic product (PPP), and it is ranked as an upper-middle-income economy by the World Bank – one of only four such countries in Africa (alongside Botswana, Gabon and Mauritius).〔(【引用サイトリンク】title=South Africa )〕 Since 1996, at the end of over twelve years of international sanctions, South Africa's Gross Domestic Product has almost tripled to $400 billion, and foreign exchange reserves have increased from $3 billion to nearly $50 billion; creating a diversified economy with a growing and sizable African middle class, within two decades of establishing democracy and ending apartheid. High levels of unemployment, income inequality, growing public debt, political mismanagement, low levels of education, reliable access to electricity, and crime are all serious problems that have negatively impacted the South African economy.
==History==
The formal economy of South Africa has its beginnings in the arrival of Dutch settlers in 1652, originally sent by the Dutch East India Company to establish a provisioning station for passing ships. As the colony increased in size, with the arrival of French Huguenots and German citizens, some of the colonists were set free to pursue commercial farming, leading to the dominance of agriculture in the economy.
At the end of the 18th century, the British gained control of the colony. This led to the Great Trek, spreading farming deeper into the mainland, as well as the establishment of the independent Boer Republics of Transvaal and the Orange Free State.
In 1870 diamonds were discovered in Kimberley, while in 1886 some of the world's largest gold deposits were discovered in the Witwatersrand region of Transvaal, quickly transforming the economy into a resource-dominated one. The British gained control as a result of the Boer War. The country also entered a period of industrialisation during this time, including the organisation of the first South African trade unions.
The country soon started putting laws distinguishing between different races in place. In 1948 the National Party won the national elections, and immediately started implementing an even stricter race-based policy named Apartheid, effectively dividing the economy into a privileged white one, and an impoverished black one. The policy was widely criticised and led to crippling sanctions being placed against the country in the 1980s.
South Africa held its first multi-racial elections in 1994, leaving the newly elected African National Congress (ANC) government the daunting task of trying to restore order to an economy harmed by sanctions, while also integrating the previously disadvantaged segment of the population into it. The 1994 government inherited an economy wracked by long years of internal conflict and external sanctions.
The government refrained from resorting to economic populism. Inflation was brought down, public finances were stabilised, and some foreign capital was attracted.〔(【引用サイトリンク】title=Economic Assessment of South Africa 2008: Achieving Accelerated and Shared Growth for South Africa )〕 However, growth was still subpar.〔 At the start of 2000, then President Thabo Mbeki vowed to promote economic growth and foreign investment by relaxing restrictive labour laws, stepping up the pace of privatisation, raising governmental spending〔(【引用サイトリンク】url=http://databank.worldbank.org/data/SA-government-spending/id/b257338e )〕 and cutting interest rates sharply from 1998 levels.〔(【引用サイトリンク】url=http://databank.worldbank.org/data/SA-real-interest-rate/id/c97cc78c )〕〔(【引用サイトリンク】url=http://databank.worldbank.org/data/SA-inflation-rate/id/eed36496 )〕 His policies faced strong opposition from organised labour. From 2004 onward economic growth picked up significantly; both employment and capital formation increased.〔
In April 2009, amid fears that South Africa would soon join much of the rest of the world in the late-2000s recession, Reserve Bank Governor Tito Mboweni and Finance Minister Trevor Manuel differed on the matter: whereas Manuel foresaw a quarter of economic growth, Mboweni predicted further decline: "technically," he said, "that's a recession."〔Quoted in Mafirakurewa 2009.〕 In 2009 the Nobel Prize–winning economist Joseph Stiglitz warned South Africa that inflation targeting should be a secondary concern amid the global financial crisis of 2007–2009.
South Africa, unlike other emerging markets, has struggled through the late 2000s recession, and the recovery has been largely led by private and public consumption growth, while export volumes and private investment have yet to fully recover. The long-term potential growth rate of South Africa under the current policy environment has been estimated at 3.5%. Per capita GDP growth has proved mediocre, though improving, growing by 1.6% a year from 1994 to 2009, and by 2.2% over the 2000–09 decade, compared to world growth of 3.1% over the same period.
The high levels of unemployment, at over 25%, and inequality are considered by the government and most South Africans to be the most salient economic problems facing the country. These issues, and others linked to them such as crime, have in turn hurt investment and growth, consequently having a negative feedback effect on employment.〔 Crime is considered a major or very severe constraint on investment by 30% of enterprises in South Africa, putting crime among the four most frequently mentioned constraints.

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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