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Just 16 years ago, South Africa was a country going backwards. Apartheid had made it a pariah of the world. Foreign investors were under pressure to pull out, sanctions were hurting its economy and its sports teams were excluded from international competition.
A generation later, the republic is coming to terms with its painful rebirth as a multi-racial democracy. A quarter are unemployed and half live below the poverty line. Uneven distribution of wealth and healthcare hasn't eased the burden of an HIV epidemic that affects 20 per cent of adults. South Africa also has the world's highest murder rate.
And yet its future is bright. It has abundant natural resources and well-developed financial, legal, energy and transport sectors. Its economy grew by 4 per cent in the last quarter of this year and a black middle class is finding its feet (this ...