South Africa a Development and Economic Overview - 2383 Words

South Africa A Development and Economic Overview Introduction I chose South Africa as the topic for this research paper. I have always wanted to visit South Africa but have never had the opportunity to travel there. My involvement in international development has given me an interest in this country, as it has many ties to the developing world and the history of developing countries through colonialism. South Africa is influenced by all levels of economic activity including the primary, secondary, tertiary, quaternary and quinary sectors which determine if South Africa’s commercial economy. These economic levels, along with the indicators of development, show whether or not South Africa is a developed nation and if so, how†¦show more content†¦The city of Cape Town remains today a city of commercial trade, as trade is conducted through the port in Cape Town to other countries around the world (Economy, 2011). Although many people in South Africa still rely on subsistence agriculture to live, the majority of the Sout h African economy is commercial. They have a plentiful supply of natural resources, which enable them to process those resources and trade them with the rest of the world in the free trade market (South Africa, 2011). In 1948, South Africa faced many problems as a policy of apartheid was implemented by the elected National Party (South Africa, 2011). This meant that there was a separate development of the African Americans and Caucasians, which favored the Caucasian minority (Comaroff, 1997). The apartheid caused many economic problems such as poverty, a lack of public transportation and â€Å"a lack of economic empowerment among the disadvantaged groups† (South Africa, 2011). South Africa’s economy also suffered major blows in 2007, when there was an electricity crisis, and in 2009, from the global financial crisis. During this time South African GDP dropped 2 % (South Africa, 2011). This being said, the South African stock exchange remains strong and is now the 18th largest in the world (South Africa, 2011). The Economic Base of South Africa Primary In the primary level of economic activity, South Africa produces many crops through theShow MoreRelatedBrazil Trade Patterns1516 Words   |  7 PagesBrazil Trade Patterns and Overview The world s seventh wealthiest economy (2011 GDP US$2.2 trillion), Brazil is the largest country in area and population in Latin America and the Caribbean. Brazil was one of the last to fall into recession in 2008 and among the first to resume growth in 2009. Brazil s GDP grew 7.5% in 2010 and 2.7% in 2011, because of the new global slowdown. 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