At what point will the Ramaphosa government deliver the bitter medicine that will facilitate economic reform in SA? To what level will things be allowed to sink before populist opinion will support the raft of required changes, including privatisation or atrophy of state-owned enterprises, diversification of energy supply and minimising entrenched racial discrimination?
While supportive of competitive investment and economic development, these will shrink unionised and government employment, at least until recovery moves ahead. Evidently the bulls feel that point is imminent...
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