Johannesburg - The Wall Street Journal has published an
article painting a bleak picture of South Africa's economy, saying labour
unrest has caused its economic growth to fall behind other African states.
"The unrest is exposing a stark reality - South Africa
is falling behind, even in Africa," read the Wall Street Journal article,
published on its website on Friday.
The article said Rwanda, which had 800 000 people killed in
the same year the ANC took power, had managed to achieve annual economic growth
near 8% since 2004, more than double South Africa's 3.7% growth rate during the
It said that when Zambia held its democratic elections in
1991, it scrapped nationalisation, but South Africa "is debating
nationalisation and other ways to intervene in the mining sector".
Countrywide strikes coupled with unemployment and income
disparity were posing a grave challenge to the ruling party, read the Wall
Street Journal article.
Brazil's economy had grown around the same pace as South
Africa's but its income disparity had diminished, it added.