Two possible approaches: Keynesianism (which advocates for high government spending for increased demand and economic production) or neoliberalism (which supports free, unregulated markets free from state intervention)
Restoration of international relations increased foreign trade and investment, RDP (1994) was replaced by GEAR in 1996 but growth never reached GEAR targets; Inflation fell from 10% in 1993 to 7% in 1998
Government deficit reduced to 3% by end of decade, unemployment grew from 20% to 23%, average income rose by less than 1% and pension values fell; avoided meltdown but faced massive unemployment, poverty, and inequality
An economic recession began post-apartheid, worsening the black population's situation, there was high inflation, unemployment (over 7mil), and over 10 mil living in shanty towns
42% of deaths were from living in poverty with uncontrolled rural-urban migration, eeconomy heavily reliant on cheap black labor
South African Congress of Trade Unions attributed apartheid and racial discrimination to profit, Whites' average annual income was 34,400 Rands, Blacks' was 3,600 Rands (1996)
Half of black population lived below subsistence level, vulnerability was highest for African women and children
South Africa was forced to take a more modern, neoliberal approach to their economic reform to be relevant within the international world market
