[Marxism] Fwd: South African Capitalism's Train-Smash | Opinion | teleSUR English
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Sat Jan 2 06:02:35 MST 2016
By Patrick Bond.
The great sweeps of capital accumulation flowing above, through and from
South Africa are leaving local businesses weaker than at any other time
in memory. This may be just the medicine a mostly divided and yet often
over-confident left opposition requires in 2016. Corporations are now at
their most unpredictable and unpatriotic, with rapid expatriation of
dwindling profits, the near death of several mega-mining firms that once
ruled the roost, and a schizophrenic ruling class giddily backslapping
some days, but inconsolably depressed most others.
The financial roller-coaster ride that nearly all the emerging markets
barely survived in 2015 could become more exciting yet in 2016, here,
especially if rising forces on the political left manage to derail the
faultiest, most dangerous cars. For a change, these also appear to be
the ones most ready to tip over in any case, carrying the chief
executive officers most oriented to brutal labor exploitation, to mining
and smelting, and to reaping profits from investments elsewhere in
Africa. Those cars are also bearing the load of boorish, overweight
politicians like President Jacob Zuma, whose punch-drunk behavior in the
last month suggests he might well flip the whole train.
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