The state of the economy is so
interesting and dynamic at the moment. A couple of weeks ago I was more optimistic about a European settlement than I am today, and yet there will be ongoing discussions regarding the situations in Greece, Spain, Portugal etc, that may be positive and optimism levels will rise again. I am not overly pessimistic about the South African economy in the next few years. I think we are going to see growth of between 2.5% and 3% growth, but that may not be adequate.
There is no longer an option regarding job creation in South Africa. If we are to have political stability and economic growth, unemployment has got to be addressed and resolved as a critical imperative. I understand that we have to have a more educated workforce and the budget addresses that quite substantially. But it takes time and in the meantime many jobs have to be created. Not necessarily only highly skilled jobs, but as much employment for as many South Africans as is possible. South Africa has to get into a high growth phase if we are going to address unemployment successfully.”
Effects in the local automotive industry due to Globalisation
“Some of the positive aspects of globalisation include the reduction in the protective tariffs that have been introduced in certain countries and trade alliances. Countries such as South Africa can now compete a little more freely in some international markets with their exports. We see a huge export complementation in South Africa which has come about mainly as a consequence of various issues such as the opening of the markets. The other benefit to industry is access not only to markets, but also enhanced expertise and access to technology. In addition, we have seen international players sending many of their people on secondment to work here in South Africa, more so now than at any point in history.
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