Economic issues for a country in Africa Annotated Bibliography

Economic issues for a country in Africa - Annotated Bibliography Example They further stated that the nation’s credit ratings have been decreased by both S&P and Moody’s rating agencies and this has happened for the first time since the apartheid ended. S&P stated that they have decreased their ratings as a feedback to the strikes and the uncertainty of the political conditions of South Africa. The article further asserts that a huge part of the workforce and in accordance to the findings of the Deutsche Bank, 30% of the total mining workers are at strike. The Bank has even made a calculation of decline in the GDP that is targeted to decline by 2.5% if the strikes continue. The mining industry happens to be the backbone of South Africa and it is a huge producer and exporter of minerals such as palladium and platinum. These strikes pose a very significant issue to the economy of South Africa as the 50% of the exports gained by South Africa are backed by mining industry. These strikes are not only impacting the nation in a negative manner, the effect has been experienced by nations that import minerals from South Africa as an example of Anglo American company has been stated that has experienced reduction in production as a result of these strikes. South Africa’s strikes in the mining sector has increased concerns for people all over the world as these strikes have entered different areas of mining such as coal, gold and metal. The most interesting point of this article is that issues that are caused in one nation do not only impact the nation in a negative manner, they even impact other nations around the globe. For example: in this article the strikes conducted by the South African miners have negatively impacted industries that acquire minerals and commodities from South Africa. If the South African strikes continue to exist, they will not only impact the South African economy, they will