“"Governance is everything" certainly applies to present day South Africa where unlike Russia, it is a democracy in name at least.

“One really has to live here to take on board the scale of the corruption that is going on from government all the way down to town hall level. Jacob Zuma's expropriation of taxpayers’ money to build his palace at Nklanda under the guise of security measures is the tip of the iceberg.

“Unfortunately the policy of Black Economic empowerment has been responsible for propelling people into key jobs for which they are totally unqualified.

“Recently the emerging economies have been likened to sheep and goats. While India is rapidly changing into a sheep under the reforms brought in by the new central bank governor and the promise of a business friendly opposition party making gains in the May election, here we are virtually guaranteed another four years of the same as a largely uneducated electorate go to the polls.

“I fear South Africa is going to remain a goat for some years to come.”

David Fuller's view

Many thanks for your insights.  I have enjoyed your contributions for decades but this is the most pessimistic assessment from you that I can recall.  I take note.