South Africa: the next wave of pullouts

Article Abstract:

The withdrawal of US and European multi-national corporations from South Africa has led to additional assumption of power by the Pretoria government, the cheap purchase of assets by South African investors when foreign-owned companies leave, and loss of jobs by South African blacks. Total foreign direct investment in South Africa was about $20 billion in 1984, with British firms making up about 40% of the total, and the US and West Germany 20% each. Deteriorating conditions in South Africa have fueled increasing measures directed at South Africa from the US. The European Community does not ban investments in South Africa, however, and there has been little European pressure placed on European firms to withdraw. It is suggested that the US may now ask the Europeans to conform with its own actions. Momentum toward disinvestment is strong, despite concerns expressed about the consequences.

Foreign investments, Economic aspects, South Africa, Disinvestment

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Heir to Korean conglomerate stakes his future on the Libyan desert

Article Abstract:

Choi Won-suk, the 41-year-old chairman of Dong Ah Construction Industrial Co. of South Korea, has garnered a reputation for boldness in his business endeavors since convincing his father, Choi Jun-min, who founded the business, to take a chance on a construction job in Saudi Arabia in 1973. That job was considered risky by other Korean construction firms, but Dong Ah has earned approximately $3 billion in earnings from Saudi Arabia since that time. Now Choi Won-suk has entered into another risky engineering contract, one with Libya under which it will build a 1,900-kilometer underground water system in the country for $3.27 billion. Several potential problems are anticipated by analysts due both to the political and economic climate in Libya, and to the idiosyncracies of the country's leader, Moammar Khadafy.

Management, Engineering services, Engineering firms, Political aspects, Economic development, Water resources development, Water resource development, Libya, Korea, South, Won-suk, Choi

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