By Tim Harris/Business Day
SOUTH Africans might be tempted simply to shrug and accept the new reality that Nigeria’s economy is actually 60% larger than ours following last week’s rebasing of the former’s gross domestic product (GDP). That would be a mistake.
Yes, we must agree that, given long-run economic convergence, countries with larger populations will become bigger economies. We should admit that the largest countries have more diplomatic influence, regardless of the individual wealth of their citizens. Further, we should acknowledge the anecdotal evidence that bigger countries have tended to grow faster in recent years. Read More ....
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