When I was in government, the South African economy was growing at 4.5% - 5%. But then came the global financial crisis of 2008/2009, and so the global economy shrunk. That hit South Africa very hard, because then the export markets shrunk, and that includes China, which has become one of the main trade partners with South Africa. Also, the slowdown in the Chinese economy affected South Africa. The result was that during that whole period, South Africa lost something like a million jobs because of external factors.
Thabo MbekiGloom and despondency have never defeated adversity. Trying times need courage and resilience. Our strength as a people is not tested during the best of times.
Thabo MbekiIf you look for instance at the automobile industry, part of the reason that you have the expansion of that sector, is precisely because we have gone out to talk to the automobile companies to explain government policy with regard to that sector, to talk to them about the MIDP and things like that. And indeed, it has been a very important part of attracting those investors to put in money in the South African economy and build motorcars in South Africa.
Thabo MbekiWe can't treat the matter of black economic empowerment as just the redistribution of existing wealth. It really has to focus on new investment, on growth, on development of employment and so on and so on.
Thabo MbekiThe matters I am talking about regarding the ports. That matter has been discussed with the unions, and agreed, and therefore there is no particular reason why there should be a problem about it. We will continue to move like that. We need the engagement of the unions in these processes.
Thabo Mbeki