. The attack — claimed by the Houthi rebels from Yemen — created the type of geopolitical chaos that has become common cause in all matters involving oil, rebels and Middle-East superpowers. Mike Pompeo, the United States secretary of state, immediately blamed Iran for the attacks. Donald Trump offered support to the government of Saudi Arabia. But the man most wounded by the attack was the Saudi crown prince, Mohammed Bin Salman .
But Aramco’s other relevance in the world is the fact that it is an economic outlier. As a profitable state-owned entity, Aramco has thrived in an age where the tides of capitalism have gravitated towards private enterprise. State involvement in business is a point of contention between politicians, business, society and common sense. Hardliners of free markets insist the role of the state is a matter of regulation and oversight rather than participation.
The South African government suffers from a paralysis when confronted with the question of state ownership. At the heart of the paralysis is the question of purpose and possibility.. Such a bank — in the eyes of those whose commitments to political party resolutions is absolute — is necessary for no other reason except that it was decreed at an ANC conference.
Leaving these tasks to private enterprise would have delayed the national rollout and imposed a unit cost that would have left many citizens unable to use them anyway. There is no shortage of banks in South Africa. In relation to social imperatives, the transformation of the sector seems to be on par with what the government is willing to tolerate and accept from the banking market.
CoruscaKhaya Yet the STATE IN SouthAfrica does not deliver on road electricity infrastructure
CoruscaKhaya Very interesting read Jobe thank you 🤝 in a country with a gini coefficient second from Lesotho, the obsession with privatization is ill-informed. Of course without being oblivious to the current crop of bourgeoisie type of politicians without social conscious🤦🏽♂️
CoruscaKhaya After watching bad Billionaire boys of India on Netflix and seeing the corruption with their state banks, we dont need a state bank. Imagime the looting.
CoruscaKhaya I have never understood why people in their wisdom think the state has/myr have limits in what it can do in commerce but private enterprise do everything except for those that ain't profitable for them🤔. Weird reasoning from a selfish standpoint imo
CoruscaKhaya I understand the private ownership of SAA they face vicious competition from private carriers. As you describe, the state assists with (comprehensiveness). Given the discriminatory sense of private banks, is there no inclusionary role, like access to capital, it could play.
CoruscaKhaya CoruscaKhaya you are correct here. The state ownership fanatics must understand that they have no business running airlines. We should indeed improve on infrastructure like rail, roads, water and regulation inorder to make capital work better for citizens.