Australia vs South Africa
Andre Willers
30 Oct 2013
Synopsis :
The critical divergence points are
1. TV in 1956 (RSA 1976)
2.Abolition of White Australia Policy 20 Oct 1973 (RSA
equivalent 1994)
3. Hong Kong transfer of Sovereignty 1 July 1997 (N/A
to RSA)
Discussion :
1. Discrimination in Australia , especially iro immigrants ,
because of race gradually relaxed ,
greatly helped along by ubiquity of TV .
TV diminishes fear of the "other" via familiarity .
All soapies are the same .
There are about 1.4 Billion TV sets for 7 Billion people on planet
now . About 1 per every 5 persons of the planet .
Ie 1 per family .
2. The final dissolution of White Australia Policy in 1973 opened
the floodgates to highly qualified Chinese
immigrants with strong work ethics . This forced "old"
Australians to compete . (They still resent it)
The entire society became richer .
3. This enabled the huge capital inflows from Hong Kong in the
run-up to the transfer of Hong Kong to China on 1 July 1997 .
Really large amounts , which were productively invested .
The Australian economy really took off .
Compare AUD/USD from 1990 .
The AUD strengthened as Hong Kong capital flowed in till about
1998 , then weakened for about 10 years as consolidation and production geared
up , then the combination of capital and skilled labour relentlessly increased
the value of the AUD .
4.Summation :
The relative strength of AUD to ZAR says it all :
ZAR 9.39 buys AUD 1.0 . as at 30 Oct 2013 .
Australia is about 10 times richer than RSA .
This represents about 6% annual difference in growth rates over 40
years .
Andre
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References :
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