The withdrawal of General Motors (GM) is one of the first major consequences of the ANC's economic declaration of war against South Africa, says adv. Anton Alberts, FF Plus’ spokesperson on trade and industry.
He says it is not surprising that a company like General Motors (GM) is withdrawing from the country since it has been clear for a long time that big companies are extremely uncomfortable with the ANC's rhetoric of radical economic transformation and statements on property expropriation.
Adv. Alberts says whilst the president of America, Donald Trump, is working hard to attract American companies back to their own country, South Africa's government apparently does everything in its power to drive investors away.
"No one should think that the Chinese will come to our rescue and, for example, take the place of a company like GM. GM is lost due to the ANC's actions. This makes South Africa poorer, many people are going to be unemployed, the trade deficit is getting bigger and the rand will fall.
"The ANC government creates the perfect storm for a revolution in the country. GM's withdrawal shows that an ANC made time bomb is ticking across the country," says Adv. Alberts.
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