Quote of the week

Israel has knowingly and deliberately continued to act in defiance of the [International Court of Justice] Order. In addition to causing the death by starvation of Palestinian children in babies, Israel has also continued to kill approximately 4,548 Palestinian men, women and children since 26 January 2024, and to wound a further 7,556, bringing the grim totals to 30,631 killed and 72,043 injured. An unknown number of bodies remain buried under the rubble. 1.7 million Palestinians remain displaced — many of them permanently, Israel having damaged or destroyed approximately 60 per cent of the housing stock in Gaza. Approximately 1.4 million people are squeezed into Rafah — which Israel has stated it intends to attack imminently. Israel’s destruction of the Palestinian healthcare system has also continued apace, with ongoing, repeated attacks on hospitals, healthcare, ambulances and medics. Israel has also continued to conduct widespread attacks on schools, mosques, businesses and entire villages and areas.

Republic of South Africa Urgent Request to the International Court of Justice for Additional Measures South Africa v Israel
18 August 2010

The money and ingenuity looking for a long term home – i.e. capital that is prepared to set up bricks and mortar and businesses with global reputations to uphold – is going to be particularly cautious about deals like this one because: It exposes Black Economic Empowerment to be nothing more than a mechanism to bribe the political class – rather than what it was promised to be: a mechanism to spread the benefits of capitalism to the previously denied and disadvantaged; It acts as a massive drain on the productive employment of capital i.e. it adds so much extra costs to the normal costs of conducting whatever business you are in that the benefits of being in South Africa, as opposed to anywhere else, disappear; The kind of “money and ingenuity” that you get when your market presents such long term risks are short term specialists – the ones who make a living out of basket cases and are used to dealing with them – with their bribes and coups and political meddling. – Nic Borain on the ArcelorMittal /Imperial Crown Trading deal

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