South Africa has still not escaped the torments of volatility. It periodically hits economic growth, business confidence, the gold price – even the weather. But since the first democratic elections of April 1994, the troughs have been neither as deep nor as sustained. When the economy loses pace, as it did earlier this year, it no longer drops into negative growth. And periods of slower growth seem to be far shorter than they were in the dying days of apartheid.
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