Answer to Question #239921 in Macroeconomics for Nunu

Question

Critically analyse the South African economy using the discussion on the South African economy given.

Answer 1

South Africa has a double economy, composes World Bank country chief Paul Noumba noted in the Defeating Destitution and Imbalance report. 

From one viewpoint is a little high-gifted, high-usefulness economy and then again, an enormous low-talented, low-efficiency one. This appraisal contends that it is this duality that has to some extent brought about high pay imbalance that has been consistently rising mirroring a profoundly spellbound work market. 

Training, reskilling and occupations creation have a vital part to play in South Africa's future to guarantee it closes racial and sexual orientation wage variations and forms into a more cutthroat economy.