South Africa
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Measuring Capital’s Super-Exploitation of People and Nature in South Africa: First-Cut Empirical Evidence drawing upon Rosa Luxemburg’s Methodology
7 April 2021 - by Patrick Bond
Introduction Super-exploitation is again a hot topic of debate within international political economy scholarship, in part because “accumulation by dispossession” (using David Harvey’s phrase) is so evident at this stage of the long capitalist (...) -
South Africa: Vaccine Apartheid or Equality?
30 January 2021 - by Rehad Desai, South African Federation of Trade Unions
We are in the middle of a global shortage of supplies of COVID-19 vaccines. We are reliving the saga that happened early in the pandemic around access to personal protective equipment (PPE), where each country fought for its own patch. Getting (...) -
As South African climate justice veterans fall, consciousness begins reviving, from below and across
2 January 2021 - by Patrick Bond
On three days last week – December 23-25 – South Africa’s east coast province of KwaZulu-Natal (KZN) lost three of its clearest voices for social justice and environmental sanity: rural women’s leader Sizani Ngubane (74), trade unionist Patrick (...) -
Putting an end to the EU’s neo-colonial policies in the field of trade and investment: Economic pressures from above, social reaction from below
22 September 2020 - by Patrick Bond
Summary: The European Union and Africa have had exceptionally conflictual relations even after slavery and colonialism ended. Still today, African-European civil society relationships from below are often arrayed against a nexus of state and (...) -
World Bank’s rating obsession will negate debt justice
31 August 2020 - by Patrick Bond, Dominic Brown
The international financial system’s reliance upon credit ratings – usually based on dubious premises – needs urgent rethinking. The Covid-19 pandemic is just one of the catastrophes leaving many low-income countries – and soon middle-income (...) -
Unleashing the power of pension funds and debt cancellation to finance a just energy transition
25 August 2020 - by Dominic Brown
“Debt cannot be repaid, first because if we don’t repay, the lenders won’t die. That is for sure. But if we repay, we are going to die. That is also for sure.” Those were the words of the revolutionary former president of Burkina Faso, Thomas (...) -
IMF: if you didn’t like the starter, wait for the main dish
5 July 2020 - by Amandla
The Treasury has made clear that it is seeking a smallanyana three to five year loan from the International Monetary Fund (IMF) of $4.2 billion, at a smallanyana interest rate of 1 or 1.1%. It will also be looking for a loan of $55-60 million (...) -
South African should be wary about long term repercussions of new IMF loans
5 June 2020 - by Patrick Bond
Amidst this raging debate about the role of IMF loans to pull out countries from the economic mess triggered by the outbreak of the pandemic, Patrick Bond, professor at the University of the Western Cape School of Government in an interview to (...) -
Running to the now ‘reformed’ IMF would be a mistake
3 June 2020 - by Dominic Brown
Covid-19 creates an opportunity for the government to act boldly, which includes greater investment in social services and a much larger public sector Historically regarded as a villain that has obstructed the prosperity of “developing (...) -
Should South Africa Follow the Law of the Jungle – or the Doctrine of Odious Debt?
30 April 2020 - by Patrick Bond
South Africa’s fierce debates over the costs and benefits of a proposed International Monetary Fund (IMF) bail out of $4.2 billion unveil the country’s massive weaknesses and potential strengths, at a time food protests have moved from the slums (...) -
This Changes Everything
31 March 2020 - by Amandla Editorial
For many, the lockdown of 21 days will be a severe test. For some it will in effect be impossible. Imagine being under lock-down for 21 days in a one bedroom shack with six or seven others. Tensions and violence are bound to rise, and it is (...) -
Liberate South African public pension from stock market
27 March 2020 - by Dominic Brown
Globally, stock markets are reported to have lost more than $13-trillion dollars over the past month. South Africa was not spared. On March 12 and 13 the Johannesburg Stock Exchange (JSE) dropped by 10%, the biggest single fall in the JSE since (...) -
Who really ‘state-captured’ South Africa? Revealing silences in poverty, inequality and structurally-corrupt capitalism
2 March 2020 - by Patrick Bond
The ‘state capture’ of South Africa’s parastatal agencies and government departments typically has been seen in a binary mode, with a narrative critical of two competing factions (‘Zuptas’ and ‘WMC’) within the African National Congress. A review of (...) -
South Africa: actions against the abusive debts imposed on the popular classes
13 November 2019 - by Eric Toussaint
The 2012 Marikana mine massacre In 2012 thirty-four protesting miners employed at the Marikana platinum mine were massacred by police repression. They were in a hard fought struggle for wage increases. They had nothing left to lose because at (...) -
Series: Adverse International and Local Conditions for Sub-Saharan Africa (Part 6)
New Threats, New Resistances and New Alternatives
12 November 2019 - by Eric Toussaint, Patrick Bond, Ishmael Lesufi, Lisa Thompson
We conclude with thoughts about the agency for resistance to these neoliberal policies, both ones in existence since the early 1990s (Bond 2014) and those that are being re-introduced through SEZs and the renewed export-led ‘growth’ strategy. (...) -
Series: Adverse International and Local Conditions for Sub-Saharan Africa (Part 5)
Local South African Economic Conditions
6 November 2019 - by Eric Toussaint, Patrick Bond, Ishmael Lesufi, Lisa Thompson
As the world economy spirals into crisis stage, with fully-fledged deglobalisation and a new round of financial turmoil, the South African context is just as foreboding. Corporations and workers alike are ill prepared for the period ahead, (...) -
Series: Adverse International and Local Conditions for Sub-Saharan Africa (Part 4)
Africa’s Renewed Crises of Unbalanced Trade, Disinvestment, Debt
29 October 2019 - by Eric Toussaint, Patrick Bond, Ishmael Lesufi, Lisa Thompson
In addition to China, Africa is meant to be one of the most critical markets for South Africa’s SEZs, and attracting other investment, trade and finance to the continent was one justification for entering the BRICS bloc, according to Jacob Zuma (...) -
Series: Adverse International and Local Conditions for Sub-Saharan Africa (Part 3)
The China Factor
22 October 2019 - by Eric Toussaint, Patrick Bond, Ishmael Lesufi, Lisa Thompson
The most crucial factor in whether South African SEZs succeed may well be the complicated role of China. There are three aspects worth discussing: overall demand; Chinese incoming FDI to South African SEZs (such as is driving Coega and (...) -
Series: Adverse International and Local Conditions for Sub-Saharan Africa (Part 2)
Global Economic Volatility and Socio Political Reactions
16 October 2019 - by Eric Toussaint, Patrick Bond, Ishmael Lesufi, Lisa Thompson
Trade and currency wars, financial volatility and economic turbulence are now the most important features of the world economy. The elements of a new international financial crisis are in place. Although we do not know when it will break out, (...) -
Series: Adverse International and Local Conditions for Sub-Saharan Africa (Part 1)
South African Special Economic Zones : History of Limited Successes
8 October 2019 - by Eric Toussaint, Patrick Bond, Ishmael Lesufi, Lisa Thompson
Given both short- and longer-term trends in the world and South African economies, there is a danger of government and society placing inordinate hopes in what are variously termed Export Processing Zones, Industrial Development Zones and (...) -
South Africa: Cancel Eskom’s odious debt to the World Bank
3 September 2019 - by Jonathan Cannard
Despite significant and wide-ranging concern about the fate of Eskom, the World Bank has recently expressed its full confidence in the state-owned power utility’s ability to complete Medupi power station and ensure national electricity provision. (...) -
Something’s got to give
14 June 2019 - by Amandla Editorial
The election of a new government should be a time of celebration. 25 years since the end of Apartheid should be the time of immense celebration. Yet, 25 years since the “dawn of democracy” and South Africans are engulfed by extreme forms of anger, (...) -
Lonmin’s murder, by money
6 June 2019 - by Patrick Bond
Autopsy reveals Lonmin—the British-South African company—corpse’s poisoning by microfinance, ‘development finance’ and corporate finance. The death of the 110-year old mining house Lonmin at a London shareholders meeting on 28 May occurred not (...) -
South Africa: Resistance and Research for Alternatives to Illegitimate Debt and for Ecosocialism
3 May 2019 - by Eric Toussaint
Report on the CADTM International mission to South Africa 31 March – 12 April 2019, part 2. First part available here Wednesday 3 April: Cape town and Cape of Good Hope: highly visible social and racial segregation The fourth day was (...) -
South Africa: the odious debts generated by coal-fired power-stations
2 May 2019 - by Eric Toussaint
In South Africa, public debt has recently been back in the news through a nationwide debate over the future of Eskom, the public electricity company. Major power cuts affected the country’s social and economic life in February 2019, drawing (...)
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