International -- Readers Report
A BRIGHTER LOOK AT SOUTH AFRICA'S ECONOMY (int'l edition)
Although unemployment in South Africa is high, the rate is currently nearer to 30% than 40% ("If Mandela's coalition crumbles, South Africa could follow," International Outlook, Sept. 8). And the workweek in most sectors, including mining, averages 48 hours or less, not "up to 60 hours."
Foreign investment has indeed been slow to come to South Africa, but investors have responded well to four consecutive years of real gross domestic product growth. Foreign investment increased notably in 1996 and the first half of 1997, while indications of further foreign direct investment abound.
BUSINESS WEEK readers interested in a comprehensive overview of recent economic developments in South Africa are welcome to visit the South African Reserve Bank Web site at: http://www.resbank.co.za/economics/.
South AfricaReturn to top
CHINA MAY BE HEADING TOWARD CHAOS (int'l edition)
Rudi Dornbusch's "An Achilles' heel that could cripple China" (Economic Viewpoint, Sept. 15) takes a bold view. Very few Western economists see the perils in China's future. Most think China will become an economic superpower. The current economic growth in China is just a temporary spike. If anybody has faith in China, think twice.
If economic chaos descends on China, the political system will be in danger.
Wayland, Mass.Return to top