ABSA economists believe if South Africa was to lose the benefits of the African Growth and Opportunity Act – AGOA – the impact would not be that significant.
However, they are concerned that it may have long-term negative impacts around attracting attracting foreign direct investment from the United States.
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Its not even about the GDP its the amount of job losses that happen. Farmers will be under immense pressure cost of food will be under threat. The steel industry closing has already put the motor industry under pressure no AGOA could be a 100 000 job loss and a crippling economy.