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Members of President Jacob Zuma’s inner circle mocked South Africa’s descent into junk status this week, treating the potential body blow to South Africa’s economic wellbeing as a big joke.One of them, Zuma’s son Edward, said the ratings agencies “did us a favour, really”. Displaying a breathtaking ignorance of economics, Zuma’s allies cheered the downgrade, which analysts  warn could restrict the country to a low-growth path for decades.

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