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(Re: Apple+Foxconn) Why did Anti-Apartheid protestors pick on Barclays (Original Post) sudopod Feb 2012 OP
Because it had been the largest? muriel_volestrangler Feb 2012 #1
"Because it had been the largest?" sudopod Feb 2012 #2
Kick with unnecessary accusatory and/or inflammatory comment sudopod Feb 2012 #3
By the time the major protests came around apartheid was already imploding Sen. Walter Sobchak Feb 2012 #4
I may be mistaken...but sudopod Feb 2012 #5
A South African recession in the 70's turned into a debt crisis in the early 80's Sen. Walter Sobchak Feb 2012 #7
Were you there? lapislzi Feb 2012 #10
thanks for the insight! :) nt sudopod Feb 2012 #11
kick nt sudopod Feb 2012 #6
That's true enough, but there are better reasons to SINGLE out Apple. Pholus Feb 2012 #8
reminds me of the argument WalMart cultists say, even though WM was the vanguard in outsourcing MisterP Feb 2012 #9

muriel_volestrangler

(101,412 posts)
1. Because it had been the largest?
Fri Feb 17, 2012, 07:17 PM
Feb 2012
Barclays' withdrawal will prove to be "an economic earthquake," financial analysts here said, warning that it will inevitably shake business confidence in South Africa's future. For years, Barclays National was the country's largest bank but slipped to second place a year ago behind Standard Bank, also British-owned.

http://articles.latimes.com/1986-11-25/news/mn-13169_1_south-africa


Standard (Chartered) did not run personal accounts in Britain, so was not vulnerable to a personal (and especially student) boycott.

sudopod

(5,019 posts)
3. Kick with unnecessary accusatory and/or inflammatory comment
Fri Feb 17, 2012, 07:45 PM
Feb 2012

Collective guilt upon all who do no acquiesce!

 

Sen. Walter Sobchak

(8,692 posts)
4. By the time the major protests came around apartheid was already imploding
Fri Feb 17, 2012, 08:02 PM
Feb 2012

The boycott was mostly political theater.

sudopod

(5,019 posts)
5. I may be mistaken...but
Fri Feb 17, 2012, 09:53 PM
Feb 2012

My understanding of events is that vast numbers of young people withdrew their savings from Barclays, which spooked them, since they understood that the young college set would be the future wealthy, and this coupled with political pressure led them to divest from SA, which in turn landed a "critical hit" on the apartheid government's ability to borrow, leading to peace talks with the ANC.

 

Sen. Walter Sobchak

(8,692 posts)
7. A South African recession in the 70's turned into a debt crisis in the early 80's
Fri Feb 17, 2012, 11:50 PM
Feb 2012

in which foreign banks beginning with Chase Manhattan pulled the plug on both public and private lending to South Africa believing the National Party government was going to collapse and the country was going descend into anarchy. (both reasonable assumptions) South Africa has never recovered from the capital flight that occurred in this period.

lapislzi

(5,762 posts)
10. Were you there?
Sat Feb 18, 2012, 06:13 PM
Feb 2012

Because I was. That act of "political theater" gave some activists the will to carry on when there were daily killings, and fifth column activities dividing and conquering.

It said, "the world has not forgotten us."

Much like the U.S., apartheid-era South Africa suffered from an insufferable form of exceptionalism. I will leave my religious theories outside of this discussion, but I heard lots of rhetoric about cities on hills, and not just on Sunday.

The Barclays boycott had the short term effect of increasing the stranglehold of the military state. They scrambled to nationalize the thing amidst economic and political chaos. Actually, they're still in business. But the cost was huge. I witnessed this from a semi-insider position , as my brother and sister-in-law lurched along with the listing ship. They survived.

But it was both pathetic and scary to watch the white power elite throw everything it had at the emerging politically conscious class. If you were white, and if you wanted the change you knew had to come, your best course of action was to lie low. Making a spectacle of yourself on either side was to sign your own death warrant.

It was a scary, exciting time.

Pholus

(4,062 posts)
8. That's true enough, but there are better reasons to SINGLE out Apple.
Sat Feb 18, 2012, 03:11 PM
Feb 2012
http://www.lasvegassun.com/news/2012/jan/22/apple-america-and-squeezed-middle-class/

Hey, it's a simple economics question why SHOULD I support someone who so openly makes it plain that they do not support OUR future?

After the initial blunt statement that the jobs are not coming back there was one other telling quote:

------------------------------------------------------------------------
Eventually, the orbits of the men overlapped. “I’m not worried about the country’s long-term future,” Jobs told Obama, according to one observer. “This country is insanely great. What I’m worried about is that we don’t talk enough about solutions.”
------------------------------------------------------------------------

Cue the beavis and butthead laughter. We don't talk enough about solutions? This from the man who just flat out said his company's future is OUTSIDE this country.

Another person thought that way as well. I beleive she is quoted by history as saying: "Let them eat CAKE!"

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