ECONOMIC conditions in Africa, INDUSTRIES, ECONOMIC policy
Abstract
This publication covers economic, financial and technical issues from Africa. Such issues include continental developments, policy and practice, industries, and communications and transport. The publication also covers China's growing share of South Africa's manufacturing import and export markets and foreign loans.
ECONOMIC development, INTERNATIONAL economic relations
Abstract
The article reports that South Africa has been formally invited to join the group of emerging economies called BRIC, which consists of Brazil, Russia, India, and China. Experts believe that the accession of South Africa is in consideration of the group's economic interest in Africa. Critics noted the sluggish economic growth of the country compared with the economies of the original members. Bilateral trade between China and South Africa has also rapidly grown.
BALANCE of trade, DUMPING (International trade), INTERNATIONAL trade, IMPORTS
Abstract
The article reports on the negative impact of cheap imports from China on South Africa's manufacturers. Chinese officials were told by South African Trade Minister Rob Davies of several trade concerns during his tour of East Asia in 2012. A trade deficit of 1.2 billion U.S. dollars was built by South Africa with China between January 2010 and December 2011, according to data from "Statistics South Africa."