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• Case | HBS Case Collection | 2013 (Revised from original 2011 version)

  South Africa (A): Stuck in the Middle?

  Richard H. K. Vietor and Diego Comin

  Fifteen years after ending apartheid, formal unemployment in South Africa was still at 24%. While the country had grown at 4 to 5% annually during the 2000s, the financial crisis set it back by 1 million more unemployed. Moreover, it seemed as if the nation were stuck between low wage and fully developed competitors. The government of Jacob Zuma has just adopted a "New Growth Path," hoping to create several million jobs over the next few years. Both the Finance Minister and the head of the Central Bank support the initiative, but worry how they can sustain fiscal discipline and control inflation, in light of these stimulative policies. Organized labor, meanwhile, has little sympathy for any sort of sacrifice.

  Keywords: Financial Crisis; Inflation and Deflation; Policy; Employment; Wages; Competition; South Africa;

  Citation:

  Vietor, Richard H. K., and Diego Comin. "South Africa (A): Stuck in the Middle?" Harvard Business School Case 711-084, May 2013. (Revised from original April 2011 version.)

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• Case | HBS Case Collection | 2013 (Revised from original 2006 version)

  China: 'To Get Rich is Glorious'

  Richard H.K. Vietor and Julia Galef

  In 1978, Deng Xiaoping assumed the leadership of an impoverished China, after Mao Zedong's disastrous Cultural Revolution. During the next 17 years, Deng applied pragmatic policies to liberalize the Chinese economy gradually while maintaining the power of the Communist state. In hindsight, this strategy was among the most successful development strategies ever. Reviews Chinese political history and explores in detail eight parts of Deng's development strategy. Concludes by looking at the problems facing Jiang Zemin in 1997 as he takes control of China for the next leg of economic development.

  Keywords: History; Leadership; Privatization; Policy; Macroeconomics; Economic Systems; Development Economics; Government and Politics; Business Strategy; Growth and Development Strategy; China;

  Citation:

  Vietor, Richard H.K., and Julia Galef. "China: 'To Get Rich is Glorious'." Harvard Business School Case 707-022, April 2013. (Revised from original November 2006 version.)

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• Case | HBS Case Collection | 2013

  America's Budget Impasse

  Richard H.K. Vietor

  In the spring of 2013, Barak Obama faced a difficult budgetary challenge—reducing fiscal deficits over ten years without dampening the weak economic recovery but soon enough to avoid another breach of the debt ceiling, with potential default. Finally, in April, he released his budget—calling for spending cuts and tax hikes adding to 1.8 trillion (over ten years). However, in the preceding two weeks, both the House Republicans and the Senate Democrats had approved budget resolutions that were exceedingly different. Now, amidst flurries over gun control and immigration reform came the time to bargain on the macroeconomy of the United States.

  Keywords: United States; competitiveness; stimulus; Budgeting;

  Citation:

  Vietor, Richard H.K. "America's Budget Impasse." Harvard Business School Case 713-078, April 2013.

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