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It is a complicated set of circumstances to assess. But SA most certainly was a productive economy, even if you account for the abundance of labour. I can argu
by shswkna 4y ago
It is a complicated set of circumstances to assess. But SA most certainly was a productive economy, even if you account for the abundance of labour.
I can argue that Apple and the iPhone as a product range is riding on cheap labour from Asia. And so are many products the rich world depends on. Would you say the US is not really a productive country because of that?
- perfecthjrjth 4y agoUnlike the third world countries, the US is in unique situation: the whole world can exchange their real assets(commodities, finished products, etc) for the US dollar. This luxury is not available to any Asian/African country. That's why the USD is called the world reserve currency.